Vertice bags RM27m Desaru subcontract work

KUALA LUMPUR (Aug 28): Vertice Bhd, formerly known as Voir Holdings Bhd, has bagged a RM27.35 million subcontract work from Kumpulan Liziz Sdn Bhd, who is the main contractor for the proposed Desaru Coast Marina, customs, immigration and quarantine complex and ferry terminal building in Desaru, Johor.

In a filing with Bursa Malaysia yesterday, Vertice said its wholly-owned subsidiary Vertice Construction Sdn Bhd has accepted the subcontract offer from Kumpulan Liziz.

The job encompasses dredging works for marina basing and entrance, construction of breakwater at the entrance of ferry terminal and design, fabricate, supply and installation of steel pontoon system and dolphin pile.

“Construction period will be for nine months, commencing on Aug 29, 2018 to May 19, 2019,” it added.

Vertice said the subcontract work is expected to contribute positively towards the group’s earnings and net tangible assets for the period of the subcontract.

Vertice shares closed down 1.5 sen or 1.62% at 91 sen yesterday, for a market capitalisation of RM170.09 million.

This article first appeared in The Edge Financial Daily, on Aug 28, 2018.

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