KUALA LUMPUR: Signature Alliance Group Bhd (SAG) has secured a RM51.56 million contract to redevelop and refurbish Underwater World Langkawi.
The contract was awarded to its subsidiary Zig Zag Builders, through a construction works agreement with Underwater World Langkawi Sdn Bhd, the attraction’s owner and operator.
Located in Pantai Cenang, Underwater World Langkawi is part of Main Market-listed Eden Inc Bhd and has been operating since August 1995.
The project is scheduled to begin on Nov 13 and will take 18 months to complete.
It is expected to contribute positively to SAG’s earnings and net assets throughout the contract period.
The contract, secured on Nov 2, was not included in the company’s previously reported unbilled order book of RM228.6 million as at June 30.
SAG executive director and group chief executive officer Datuk Chang Chung Fei said the contract marked a significant addition to its project portfolio.
“Underwater World Langkawi is a well-known attraction, and we are pleased to be entrusted with its redevelopment and refurbishment.
“Our team has direct experience working in Langkawi through the previous completed project, and that familiarity with the local operating environment and logistics will be useful as we mobilise for this new assignment,” he said in a statement.
Zig Zag Builders previously completed a project worth more than RM40 million on the island.
It involved interior fit-out, cabinetry, joinery, built-in furniture and related works for two blocks of serviced apartments at a commercial hotel property.
According to the Langkawi Development Authority, the island recorded about 3.2 million visitor arrivals in 2025, supporting continued investment in its hospitality and tourism infrastructure.
“As we move into our next phase of growth, our priority is to convert new awards into timely project delivery, progress billings and cash flow,” he said.
As at June 30, SAG had a net cash position of around RM80.2 million, providing financial flexibility to fund larger projects alongside its planned capacity expansion.