Advancecon bags RM27 mil earthworks contract for Rawang project

• Prior to the current earthworks contract for the Gamuda Gardens Park project, Advancecon had previously completed earthworks for the adjacent Gamuda Gardens township in Rawang in 2020.

KUALA LUMPUR (Feb 6): Advancecon Holdings Bhd announced that its wholly owned subsidiary Advancecon Infra Sdn Bhd (AISB) has bagged a RM27.3 million contract from Mujur Minat Sdn Bhd to carry out site clearing and earthworks construction (stage 1) for the Gamuda Gardens Park mixed development project in Rawang, Selangor.

The contract shall commence from Feb 7, 2024 to Dec 16, 2024.

“With the new job, our current order book stands at RM432 million, which will sustain the group’s revenue over the next two years,” its chief executive officer Datuk Phum Ang Kia said in a statement.

According to the group, the current projects also include earthworks and civil engineering services for infrastructure projects, such as the East Coast Rail Link and West Coast Expressway.

Advancecon also undertakes earthworks for numerous property developments, as well as road, industrial and oil & gas projects in Sarawak, which will sustain the group’s earnings for the next two years, the statement added.

Prior to the current earthworks contract for the Gamuda Gardens Park project, Advancecon had previously completed earthworks for the adjacent Gamuda Gardens township in Rawang in 2020.

The project owner is Gamuda Land, a subsidiary of Gamuda Bhd.

At market close on Tuesday, Advancecon shares settled down half a sen or 1.72% at 28.5 sen. Its market capitalisation stood at RM166.57 million.

Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!