PTT Synergy unit bags RM35.88 mil earthworks contract from Sime Darby Property

• The contract involves the construction and completion of earthworks and ancillary works for Phase 1 Package 3 of Bandar Bukit Raja Stage 4 in Mukim Kapar, Daerah Klang, Selangor Darul Ehsan.

KUALA LUMPUR: Construction outfit PTT Synergy Group Bhd’s wholly owned subsidiary, Pembinaan Tetap Teguh Sdn Bhd (PTTSB), has secured a RM35.88 million contract from Sime Darby Property for the Bandar Bukit Raja Business Park in Kapar, Klang.

In a bourse filing on Tuesday, the contract involves the construction and completion of earthworks and ancillary works for Phase 1 Package 3 of Bandar Bukit Raja Stage 4 in Mukim Kapar, Daerah Klang, Selangor Darul Ehsan.

Under the terms of the award, pre-possession of the site is scheduled for Dec 18, with possession commencing on Jan 5, 2026. The project is slated for completion by Sept 4, 2027.

The company noted that the award will not affect its share capital or the shareholdings of its substantial shareholders for the financial years ending June 30, 2026 to June 30, 2028.

It is also not expected to have any material impact on the net assets of PTT and its group of companies over the same period. However, the group is of the view that the contract is expected to contribute positively to the group’s future earnings throughout its duration.

According to PTT, no exceptional risks are anticipated beyond the normal operational risks associated with the project, and the group said it will implement appropriate measures to mitigate such risks as they arise.

PTT further confirmed that none of its directors, major shareholders or persons connected to them have any direct or indirect interest in the contract.

After considering all relevant aspects of the award, the Board of Directors stated that the acceptance and execution of the Letter of Award are in the best interests of PTT and its group of companies.

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