Malaysian tycoon Vincent Tan-linked Berjaya Construction takes on design-and-build works for $295M port project

Malaysian tycoon Vincent Tan-linked Berjaya Construction has been awarded a $295 million design-and-build contract for the Sanglang Port project in Perlis, according to Berjaya Property's bourse filing. The port development, which will be carried out by Berjaya Construction in collaboration with the project's owner-developer Sanglang Port Mutiara Perlis, encompasses procurement, design development, engineering, and construction.

The proposed facility will consist of two multi-user terminals, a roll-on/roll-off (RORO) terminal, and a general cargo terminal, set along a 4km trestle with water depths reaching up to 11.9 meters. The project will be executed in stages, with an estimated total cost of RM1.2 billion, including RM675 million allocated for initial construction costs.

Berjaya Property's shares remained unchanged at RM0.25 on the bourse, valuing the firm at RM1.25 billion, as reported by The Edge Malaysia. Berjaya Construction is a subsidiary of Berjaya Property, which is a business arm of the diversified conglomerate Berjaya Corporation. The tycoon behind Berjaya Corp, Vincent Tan, emphasized the significance of investing in strategic infrastructure to bolster Malaysia's long-term economic growth and enhance regional connectivity.

Tan expressed optimism that well-designed maritime facilities can generate new trade, industry, and investment opportunities while supporting local businesses and communities.

The 29th richest individual in Malaysia, according to Forbes Malaysia rich list in April, possesses an estimated net worth of $940 million. Berjaya's business portfolio spans property, retail, financial services, and gaming, in addition to Malaysia's second 5G network operator U Mobile and telecommunications firm REDtone Digital.