KUALA LUMPUR (Dec 7): Vizione Holdings Bhd has secured a RM490 million contract as a turnkey contractor to build three blocks of apartments in the Kota Kinabalu district in Sabah.

In a bourse filing on Thursday, the group said its wholly-owned subsidiary, Bina Permai Sdn Bhd, was awarded the project — located at Jalan Sepangar Menggatal — by Hardie Development Sdn Bhd.

The contract, slated to be completed within 36 months, is not expected to have any effect on the group's issued share capital and substantial shareholders’ shareholdings, said Vizione.

“The (contract) is expected to contribute positively to the future earnings of the company,” it added.

Shares in Vizione closed 0.5 sen or 11.11% higher at five sen, giving the group a market capitalisation of RM92.15 million. Year to date, the stock has fallen 16.67%.