Aneka Jaringan bags RM30.28 mil piling contract in Bandar Melaka

• In a Bursa Malaysia filing on Wednesday (April 26), Aneka Jaringan said its wholly owned subsidiary Aneka Jaringan Sdn Bhd has accepted a letter of award from Reliacon Sdn Bhd on behalf of Parkland Avenue Sdn Bhd.

KUALA LUMPUR (April 26): Aneka Jaringan Holdings Bhd has bagged a RM30.28 million contract for bored piling works related to a serviced apartment and office project located in Bandar Melaka.

In a Bursa Malaysia filing on Wednesday (April 26), Aneka Jaringan said its wholly owned subsidiary Aneka Jaringan Sdn Bhd has accepted a letter of award from Reliacon Sdn Bhd on behalf of Parkland Avenue Sdn Bhd.

The project requires bored piling works for a 41-storey block of serviced apartments with 730 units, a 40-storey block of serviced apartments with 474 units, a 15-storey office block with 30 units, a seven-storey car park and one level of commercial space.

It said that the contract will commence on May 2, 2023 and shall be completed on Jan 1, 2024.

The contract is expected to contribute positively to Aneka Jaringan’s consolidated earnings and net assets for the financial year ending Aug 31, 2023 and Aug 31, 2024, during the duration of the contract, said the company.

In a separate statement, Aneka Jaringan managing director Pang Tse Fui said that the group is steadily getting jobs as it focuses on Malaysian and Indonesian markets.

“This will replenish our order book and assist the group in improving the topline and bottomline performance while contributing positively to FY2023 and FY2024.

“We will continue to seek projects from the government and private sectors in both Malaysia and Indonesia, and are anticipating a strong pipeline of projects,” he said.

The basement and foundation construction specialist has an order book of RM137 million as of Nov 30, 2022, with its Malaysian operations contributing RM124 million and Indonesian operations contributing RM13 million.

As of March 2023, the group’s tender book stood at RM1.19 billion, with tenders in Malaysia valued at RM1.12 billion and tenders in Indonesia valued at RM68 million.

Aneka Jaringan's share price ended half a sen higher at 17.5 sen on Wednesday, bringing a market capitalisation of RM103.68 million.