Quality Concrete bags RM75 mil construction contract in Sarawak

• The construction and property development firm's wholly owned unit QC Construction & Engineering Sdn Bhd accepted the contract from LCDA Real Estate Sdn Bhd, according to the Kuching-based company’s bourse filing on Wednesday.

KUALA LUMPUR (Dec 18): Quality Concrete Holdings Bhd (KL:QUALITY) has secured a RM75 million construction contract in Kuching, Sarawak.

The construction and property development firm's wholly owned unit QC Construction & Engineering Sdn Bhd accepted the contract from LCDA Real Estate Sdn Bhd, according to the Kuching-based company’s bourse filing on Wednesday.

The contract spans two years from the date of possession of the site, which will be arranged later.

For the third quarter ended Oct 31, 2024 (3QFY2025), Quality Concrete posted a wider net loss of RM6.59 million versus RM61,000 in the same quarter last year, as revenue dropped 27.4% to RM38.06 million from RM52.42 million.

The company’s bottomline was dragged deeper into the red as its construction division recorded a wider pre-tax loss of RM7.5 million versus RM2.3 million previously, on lower revenue recognition. The group also manufactures concrete.

Shares in Quality Concrete ended four sen or 3.77% higher at RM1.10, valuing the company at RM63.76 million.

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