Libra Group terminates $13m deal, clinches two new contracts worth $14.4m

It took two steps forward and one step back.

Libra Group has bagged two contracts worth a total of $14.4m but terminated another deal worth $13m.

Its Philips Project contract with SH Design & Build has been mutually terminated, and Libra has received compensation worth $0.35m.

Separately, its subsidiary Kin Xin Engineering has been awarded a $9m sub-contract by Deenn Engineering for the supply and installation of air-conditioning and mechanical ventilation (ACMV) works for a proposed construction of multi-storey vehicle storage and support facilities at Selarang.

Kim Xin Engineering has also received a $5.4m sub-contract by Kim Seng Heng Engineering Construction for a similar ACMV project.