Advancecon bags RM36.1 mil contract from Sime Darby Property for Serenia City construction works

• Bayu Serenia forms part of ongoing development within Serenia City, a major township in the southern Klang Valley corridor envisioned as the “Garden City of KLIA”, featuring residential, commercial, and industrial precincts focused on liveability, sustainability, and connectivity.

KUALA LUMPUR (Oct 16): Construction services firm Advancecon Holdings Bhd has been appointed by Sime Darby Property (Serenia City) Sdn Bhd as the contractor for the proposed construction and completion of earthworks and ancillary works for Phases SB2 and SB3 (Bayu Serenia) of the Serenia City Stage 3 township in Dengkil, Sepang, Selangor.

In a statement on Thursday, the RM36.1 million contract was secured through Advancecon’s wholly owned subsidiary, Advancecon Infra Sdn Bhd.

It forms part of ongoing development within Serenia City, a major township in the southern Klang Valley corridor envisioned as the “Garden City of KLIA”, featuring residential, commercial, and industrial precincts focused on liveability, sustainability, and connectivity.

In a bourse filing, the group said it plans to finance the project through a combination of internally generated funds and/or external borrowings.

 “We are proud to be entrusted once again by Sime Darby Property, one of Malaysia’s most respected developers, to contribute to the next phase of Serenia City’s development. 

This project underscores our reputation as a reliable earthworks and infrastructure partner with proven capabilities in delivering high-quality results within complex township environments,” Advancecon CEO Datuk Phum Ang Kia said. 

The group said that barring any unforeseen circumstances, the contract is expected to contribute positively to Advancecon Group’s future earnings over its duration. It will not have any impact on the group’s share capital or the shareholdings of its substantial shareholders.

Advancecon provides a comprehensive range of earthworks and civil engineering services, including excavation, ground treatment, drainage, road construction, and bridge works. The company has been involved in major township and infrastructure developments across Malaysia, such as Bandar Setia Alam, Eco Majestic, Tropicana Aman, the West Coast Expressway, and the East Coast Rail Link.

As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.