Anzo gets Selayang Hot Spring contract

KUALA LUMPUR (June 14): Anzo Holdings Bhd secured a RM10.17 million contract to revitalise Selayang Hot Spring near Selangor's Batu Caves.

In a statement to Bursa Malaysia, Anzo said its wholly-owned subsidiary Harvest Court Construction Sdn Bhd received a letter of award from KL Northgate Sdn Bhd, which appointed Harvest Court as the main contractor for the project.

"The contract is not expected to have any material effects on the share capital and shareholding structure of the company. However, it is expected to have positive contribution to the earnings per share, net assets per share and gearing of the Anzo group.

"There are no significant risks other than operational risk associated with the contract. The group intends to fund the contract via internally generated funds and/or external borrowings," Anzo said.

According to Anzo, Harvest Court's job scope includes structure work besides "cold water, hot water and sanitary plumbing services for pools including filter system".

Anzo said the project site possession date falls on July 10, 2017. The company said it expected to complete the project by Jan 9, 2019.

At 10:20am today, Anzo shares rose 0.5 sen or 2% to 23.5 sen for a market value of RM75.51 million. The stock saw 448,000 shares traded. — theedgemarkets.com

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