KUALA LUMPUR (May 15): Automated waste collection company AWC Bhd said its wholly-owned subsidiary Qudotech Sdn Bhd had been awarded a subcontract for the provision of plumbing works for the 8 Conlay project developed by Damai City Sdn Bhd.
In a filing with the bourse, AWC said the subcontract worth RM32.6 million was awarded by the main contractor MCC Overseas (M) Sdn Bhd, and is to be completed in phases, from May 14, 2019 to May 31, 2021.
8 Conlay, which commenced in July 2017, comprises the lifestyle retail quarters (phase 1), two towers of serviced residences (phases 2 and 3) and a tower comprising a hotel and hotel residences (phases 4A and 4B).
AWC said the new job should contribute positively to its earnings over the duration of the subcontract.
In a statement, AWC said Qudotech’s last major contract win was for Signature Tower @ TRX for RM18.15 million in May 2016.
“This contract award is significantly larger and further strengthens AWC’s foothold as the premier plumbing contractor for premium high-end developments,” it said, adding it increases AWC’s plumbing order book to about RM130 million.
AWC shares fell one sen or 1% to 98.5 sen yesterday, giving it a market capitalisation of RM260.03 million.
This article first appeared in The Edge Financial Daily, on Sept 15, 2017.