Advancecon secures RM42.54m construction project in Klang

KUALA LUMPUR (March 16): Earthworks and civil engineering services specialist Advancecon Holdings Bhd has bagged a construction project worth RM42.54 million in Klang. 

The group, via its wholly-owned unit Advancecon Infra Sdn Bhd (AISB), has accepted the Letter of Acceptance from Sime Darby Property (Bukit Raja) Sdn Bhd for the appointment of AISB as the contractor for the proposed construction and completion of earthworks and other related works for the development of Phase 2 (R6, R8, R9, and C5) at Bandar Bukit Raja 2, Kapar district. 

The project — to be financed through internally generated funds or external borrowings — will run from March 28, 2022 to Aug 27, 2024, said Advancecon in a filing with the bourse. 

It added that the contract is expected to contribute positively towards the future earnings of the group and will not have any effect on its share capital and substantial shareholders’ shareholdings. 

Shares of Advancecon slipped 1.59% or half a sen to close at 31 sen on Tuesday (March 15), with a market capitalisation of RM150.37 million. It saw some 133,000 shares exchanging hands. 

Edited Lam Jian Wyn

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