FBG Holdings Bhd has secured a RM238.1 million contract to construct a 25-storey hotel above The Mall at Mid Valley Southkey in Johor Bahru. The building, Tower 6, will feature 375 rooms along with associated facilities, and is owned by IGB Bhd.
The contract was awarded to FBG’s wholly owned subsidiary, FBG Builder Sdn Bhd, by MVS Southpoint Hotel Sdn Bhd. The project is scheduled to begin on March 1, 2026, and is expected to be completed by June 30, 2028.
With this win, FBG’s outstanding order book rises to RM1.23 billion, providing earnings visibility through 2028.
FBG group executive chairman Tan Sri Chan Kong Choy said the contract underscores the company’s technical expertise, disciplined project management, and consistent delivery of quality workmanship. “We will maintain rigorous standards, timely execution, and close collaboration with stakeholders to ensure successful outcomes. This project strengthens our presence in Johor and contributes to long-term growth,” he added.
Major shareholders include Tan Sri Chan (indirect 13.93%), deputy chairman Tan Sri Kuan Peng Ching (indirect 11.94%), the late Tan Sri Ta Kin Yan (8.74%), and group executive director Tan Sri Lau Kuan Kam (1.02% direct, 5.44% indirect).
FBG shares closed at 15.5 sen on Thursday, giving the group a market value of RM115 million.
