Fitters bags RM81.5 mil terraced house construction job

KUALA LUMPUR (Aug 28): Fitters Diversified Bhd has clinched an RM81.5 million contract to build two and three-storey terraced houses in Rawang.

The group, which produces and sells firefighting equipment, said the construction contract was awarded by Pencala Jaya Sdn Bhd to its wholly-owned unit, Fitters Construction Sdn Bhd.

The contract is for a period of 24 months from the date of building plan approval by the relevant authorities or 42 months from September 2017, whichever is earlier, Fitters said in a statement to Bursa Malaysia today.

The contract, it said is expected to contribute positively to the earnings of Fitters for the financial years ending Dec 31, 2017 (FY17) and FY18, Fitters added.

Of the contract amount, preliminary pre-construction works accounts for RM1.8 million, followed by earthworks and retaining walls (RM5.98 million), foundation works (RM5.1 million), main building and compound infra works (RM59.62 million) and upgrading of existing main infra works (RM9 million).

Listed since 1994, Fitters saw its share price drop 0.5 sen or 1.33% to 37 sen today, for a market capitalisation of RM177.78 million. — theedgemarkets.com

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