Advancecon wins RM20m earthworks contract from Sime Darby Property

KUALA LUMPUR (June 2): Advancecon Holdings Bhd said it has bagged a contract worth RM20.21 million contract from Sime Darby Property Bhd to undertake earthworks and other ancillary works for a construction project in Dengkil, Selangor.

The group said its wholly owned-subsidiary Advancecon Infra Sdn Bhd was awarded the job by Sime Darby Property’s unit Sime Darby Property (Serenia City) Sdn Bhd for the Serenia City project.

In a bourse filing yesterday,  Advancecon said the contract is valid from June 14, 2021 until Sept 13, 2022.

The group intends to fund the contract via internally generated funds or external borrowings, it added.

Advancecon's share price slipped one sen or 2.67% to close at 36.5 sen yesterday, valuing the group at RM151.77 million.

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