KUALA LUMPUR (June 13): Pesona Metro Holdings Bhd won a RM180.84 million contract to undertake subcontract works for the construction of the Malaysian National Film Development Board’s (Finas) headquarters in Damansara Damai, Petaling Jaya.

This is the fourth contract that the construction group has secured this year.

Its wholly owned unit Pesona Metro Sdn Bhd received the subcontract works from main contractor MRCB Builders Sdn Bhd on Tuesday (June 13) for the execution and completion of the main building works.

In a stock exchange filing, Pesona said the project — with a duration of 18 months from the date of site possession — is expected to contribute positively to the group’s earnings and net assets.

The group made a net profit of RM1.42 million for the first quarter ended March 31, 2023 (1QFY2023) after a third straight quarterly loss. Profit for 1QFY2023 grew 27.9% from RM1.11 million a year earlier on higher revenue and lower operating expenses.

Revenue for the quarter under review increased 14% to RM108.34 million, from RM95.05 million previously.

Shares in Pesona finished half a sen or 2.94% lower at 16.5 sen on Tuesday, valuing the group at RM114.67 million. The stock had fallen over 36% year to date.