Nestcon secures RM74.5 mil contract to build affordable apartment block in Kwasa Damansara

PETALING JAYA (Aug 4): Nestcon Bhd has secured a RM74.52 million contract to construct a 28-storey affordable apartment block in Kwasa Damansara, Selangor.

In a Bursa Malaysia filing on Monday (Aug 3), the construction group said its wholly owned subsidiary, Nestcon Builders Sdn Bhd, had accepted a letter of award from Exsim MX4 Sdn Bhd for the project at Jalan Tasik Kenyir U4/21A, Seksyen U4, Shah Alam.

Construction will commence on Aug 3, 2026, with the project scheduled for completion within 29 months, by Jan 2, 2029.

Nestcon said the contract is expected to contribute positively to its earnings, net assets per share and gearing throughout the construction period.

The contract is not subject to shareholders' or regulatory approvals. The group said it does not foresee any exceptional risks beyond the normal operational risks associated with the project, while none of its directors, major shareholders or persons connected with them has any direct or indirect interest in the contract.

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