Meta Bright Group Secures RM60 Million Concrete Supply Contract for 88 Avenue in Kota Kinabalu
Meta Bright Group Bhd (KL) has been awarded a RM60 million contract to supply ready-mixed concrete for the 88 Avenue mixed-development project in Kota Kinabalu, Sabah. The contract, spanning five years, was secured by Expogaya Sdn Bhd, Meta Bright’s 70%-owned subsidiary, and will involve supplying concrete to Megamas Jaya Sdn Bhd and its procurement representative, Pembekal Mewah Enterprise Sdn Bhd.
Strengthening Market Leadership in Sabah
Derek Phang Kiew Lim, executive director of corporate and strategic planning at Meta Bright, highlighted the importance of the contract:
“This contract reinforces our presence in Sabah’s concrete supply industry and underscores Expogaya’s operational expertise in supporting major projects like 88 Avenue, which includes residential units, serviced residences, and retail outlets.”
He further noted that, as the largest ready-mix concrete supplier in the region, Meta Bright is committed to contributing to Sabah’s infrastructure growth, which is essential for the state’s economic expansion.
About 88 Avenue and Meta Bright’s Role
The 88 Avenue mixed-development project is a major undertaking in Kota Kinabalu, combining residential, serviced residences, and retail components. Expogaya’s involvement in the project underscores Meta Bright’s ability to support large-scale developments with reliable supply chain operations and quality materials.
Expanding Operations Across Multiple Sectors
Meta Bright Group operates in diverse sectors, including:
- Hospitality
- Investment Property and Property Development
- Energy
- Leasing and Financing
- Concrete Supply
This latest contract adds to the group’s robust portfolio in the concrete industry, further enhancing its reputation as a trusted supplier in East Malaysia.
Market Performance
Despite the positive developments, Meta Bright’s shares have declined over 32% year-to-date. As of Friday’s noon break, the stock traded at 13.5 sen, giving the company a market capitalization of RM341.7 million.
Conclusion
With this contract, Meta Bright solidifies its leadership in Sabah’s ready-mix concrete market while contributing to a key development project that will bolster Kota Kinabalu’s urban landscape. The deal reflects the company’s strategic focus on leveraging its operational expertise to drive growth across multiple sectors.
