Hartanah Kenyalang Bhd (KL:HKB) has secured its largest contract to date, valued at approximately RM275 million, to construct a new prison in Sibu.
The design-and-build project, awarded to the company’s wholly owned subsidiary Hartanah Construction Sdn Bhd by the Public Works Department, is scheduled to run for three years from Feb 9, 2026, to Feb 8, 2029.
Managing director Seah Boon Tiat expressed gratitude for the opportunity, saying the project will help the Ministry of Home Affairs address overcrowding at the existing Sibu prison. The contract also increases Hartanah Kenyalang’s total order book to RM567.7 million.
The new prison, part of the Budget 2026 allocation, is designed to accommodate up to 1,000 inmates, replacing the current facility built in 1918 with a capacity of around 450. Seah noted that the modern facility will improve living conditions for inmates while providing a better working environment for prison officers.
Hartanah Kenyalang shares remained steady at 18.5 sen at midday, giving the company a market capitalisation of RM111.51 million. The stock was listed on the ACE Market in June last year at an initial public offering price of 16 sen.
