Ekovest’s unit secures RM130m contract from KL City Hall

KUALA LUMPUR: Ekovest Bhd’s 60%-owned subsidiary, Ekovest-MRCB Construction Sdn Bhd, has secured a RM130 million contract from the Kuala Lumpur City Hall.

In a filing with Bursa Malaysia, the company said the contract was for the proposed improvement and beautification works at Precinct 7, which comprises the St. Mary’s Cathedral, Leboh Pasar Besar, Dayabumi Promenade, LRT Pasar Seni, China Town/Petaling Street, Panggung Bandaraya, Masjid Jamek, and Bangunan Sultan Abdul Samad.

It said the contract was for a duration of 104 weeks from the date of site possession and barring unforeseen circumstances, was expected to be completed in 2016.

“The works are subject to normal construction risks in which Ekovest and its subsidiaries are already exposed to, nonetheless, the construction risks will be managed and mitigated with the experience and expertise of the group.

“The contract is expected to contribute positively to our future earnings,” Ekovest added. — Bernama

This article first appeared in The Edge Financial Daily, on January 16, 2014.


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