KUALA LUMPUR: Rivertree STF Synergies Bhd said its wholly-owned subsidiary RSSB Builders Sdn Bhd (RBSB) has been appointed the turnkey construction contractor by Asetvest Sdn Bhd, a unit of Asetra Sdn Bhd, for the construction of centralised labour quarters (CLQ) with 9,000 beds in Kapar in Klang, Selangor.
In a filing with Bursa Malaysia, the group said it had entered into a RM168.14mil contract that entails the design, planning, engineering, procurement, and construction of the CLQ facility under a single turnkey arrangement.
The contract follows a March 3, 2026, announcement by Rivertree STF that it had entered a heads of agreement with Asetra, to collaborate in the construction and operation of up to four greenfield CLQs with a 28,800-bed capacity and indicative value of RM600mil.
“The proposed CLQ facility forms part of the company and its subsidiaries strategy to develop purpose-built workers’ accommodation to meet market demand and applicable regulatory requirements.
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