Nestcon secures RM32m contract for mixed-use development in Damansara Perdana

• The development also includes affordable homes, business spaces, a hotel, a private school, and other facilities, located on multiple parcels of land.

KUALA LUMPUR (Nov 19): Nestcon Bhd’s (KL:NESTCON) wholly owned subsidiary Nestcon Infra Sdn Bhd has received a letter of award for rock blasting and general works required for road and drainage systems.

In a bourse filing on Monday, the construction outfit stated the works awarded are related to a large-scale mixed-use development in Damansara Perdana, Selangor.

The value of the contract is RM31.6 million.

The development also includes affordable homes, business spaces, a hotel, a private school, and other facilities, located on multiple parcels of land.

The project is slated to commence last week on Nov 15 and will take 12 months to complete.

Upon completion, a 27-month defects liability period will apply, during which Nestcon Infra will remain responsible for addressing any issues with the work.

The job is expected to contribute positively to Nestcon’s financial performance, including its net assets per share, earnings per share, and gearing throughout the contract’s duration, said Nestcon in the filing.

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