iCents unit secures RM12.9 mil contract to renovate Klang Valley factory

PETALING JAYA (July 17): iCents Group Holdings Bhd’s wholly owned subsidiary VC Engineering Sdn Bhd has secured a RM12.9 million contract to renovate a factory, warehouse and ground floor office in the Klang Valley.

In a Bursa Malaysia filing on Thursday, iCents said VC Engineering had accepted a letter of award from a Malaysia-incorporated subsidiary of a Netherlands-based technology company specialising in products and technology solutions for the semiconductor, medical and life sciences, and infrastructure and energy industries.

Under the letter of award, VC Engineering will act as the main contractor, with the scope covering the supply, delivery and installation of building works, internal finishes, mechanical and electrical works, extra low voltage (ELV) systems, plumbing and sanitary works, fire-fighting systems, as well as testing and commissioning works.

The project is scheduled for completion within four months from its commencement date.

iCents said the acceptance of the letter of award will not have any immediate effect on the company’s share capital and shareholding structure, or its net assets per share and gearing.

However, the project is expected to contribute positively to the earnings per share, net assets and future earnings of iCents and its subsidiaries for the financial year ending June 30, 2027 until completion of the project.

The group said the contract was entered into in the ordinary course of VC Engineering’s business and does not require approval from shareholders or regulatory authorities.

iCents added that none of its directors, major shareholders or persons connected with them has any direct or indirect interest in the letter of award or the project.

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