Ekovest bags RM255.5 mil beautification job from DBKL

KUALA LUMPUR (Oct 25): Ekovest Bhd has bagged a RM255.49 million contract from Kuala Lumpur City Hall (DBKL) to undertake improvement and beautification works.

In a filing with Bursa Malaysia yesterday, Ekovest said its wholly-owned subsidiary Ekoriver Construction Sdn Bhd had received a letter of acceptance (LoA) from DBKL for the proposed jobs (Package 4A and 4B).

Package 4A entails the Sungai Klang vicinity from Jalan Kinabalu to Jalan Maarof, while Package 4B involves the Brickfields area namely Jalan Scott, Jalan Tun Sambanthan 4, Jalan Thambipillay, Jalan Sultan Abdul Samad, Jalan Vivekananda, Jalan Rozario, Lorong Chan Ah Tong, Jalan Chan Ah Tong and Jalan Tebing.

Ekovest said the LoA includes the construction of an interceptor system and its related works to improve the quality of the river water, which includes a water treatment system along Sungai Gombak and Sungai Klang. The completion period for the works is 130 weeks.

“We are extremely proud to be awarded this contract as this is another testament to our capabilities and strength of our brand in the competitive construction industry. With this, our total outstanding construction order book will be increased to RM5.54 billion,” said Ekovest managing director Datuk Seri Lim Keng Cheng in a statement yesterday.

Ekovest shares closed eight sen or 3.81% higher at RM2.18 yesterday, bringing a market capitalisation of RM1.87 billion.

This article first appeared in The Edge Financial Daily, on Oct 25, 2016. Subscribe to The Edge Financial Daily here.