Advancecon unit bags sub-contract worth RM32.67m

KUALA LUMPUR (Oct 4): Advancecon Holdings Bhd has secured a sub-contract worth RM32.67 million at Gamuda Gardens in the Gombak district.

In a filing with Bursa Malaysia today, the company said its unit Advancecon Infra Sdn Bhd (AISB) had received and accepted the letter of award from Mujur Minat Sdn Bhd as a sub-contractor for the site clearing, earthwork and ancillary works (Package 4) at Gamuda Gardens.

Advancecon said AISB is principally involved in the business of providing earthworks and civil engineering services.

It said the contract commenced on Sept 28, 2017 and shall be completed by Jan 31, 2019.

The group said it intends to fund the contract via internally generated funds and/or external borrowings.

Advancecon said the project is expected to contribute positively towards the future earnings of the group for the duration of the contract.

Advancecon rose 2.88% or 3 sen to RM1.07 with 272,200 shares done in the morning session today. — theedgemarkets.com

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