Advancecon bags RM21.27m construction contract

KUALA LUMPUR (Dec 26): Advancecon Holdings Bhd has won a RM21.27 million contract from Sime Darby USJ Development Sdn Bhd to undertake earthworks and related works in Bandar Bukit Raja 2 in Klang.

Advancecon on Tuesday said the works, to be carried out by its wholly-owned subsidiary Advancecon Infra Sdn Bhd, are expected to be completed by April 5, 2021.

"Barring any unforeseen circumstances, the contract is expected to contribute positively towards the future earnings of the Advancecon group for the duration of the contract and will not have any effect on the share capital and substantial shareholders' shareholdings of Advancecon group," the group said.

Advancecon's share price fell 0.5 sen or 1.28% to close at 38.5 sen on Tuesday, giving the company a market capitalisation of RM155.51 million.

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