Advancecon clinches RM45 mil infra works job from Sime Darby Property

• The scope of the contract encompasses comprehensive main infrastructure works, including roads, drainage systems, water reticulation, sewerage,

KUALA LUMPUR (Dec 16): Advancecon Holdings Bhd (KL:ADVCON) has bagged a main infrastructure work contract worth RM44.6 million by Sime Darby Property Bhd (KL:SIMEPROP) for the development at Elmina West.

The project was won by its wholly owned subsidiary Advancecon Infra Sdn Bhd, and will start from Jan 2, 2025 until July 1, 2026.

The scope of the contract encompasses comprehensive main infrastructure works, including roads, drainage systems, water reticulation, sewerage, telecommunications, and other essential infrastructure designed to support the long-term growth and sustainability of the Elmina West community.

With the latest win the group’s unbilled order book value has increased to RM321.6 million.

In a separate statement, Advancecon’s group chief executive officer Datuk Phum Ang Kia said that the group values the trust that Sime Darby Property, as returning client, has placed in them.

“This contract further underscores the strength of our partnership and our ability to deliver infrastructure solutions that meet their requirements. Having worked on multiple projects with Sime Darby Property, we are committed to upholding the quality and efficiency that they have come to expect from Advancecon."

“This project is another opportunity for us to contribute to the development of Elmina West, a key township in Selangor, by ensuring the timely delivery of high-quality infrastructure works. As a company, we remain dedicated to maintaining the highest standards of quality, safety, and efficiency, which form the foundation of our enduring partnerships,” he added.

At Monday’s noon closing, shares of Advancecon were up one sen or 4.3% at 24.5 sen, giving it a market capitalisation of RM143.26 million. Year-to-date, the stock has fallen 14%.

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