News about Advancecon

The scope of the contract encompasses comprehensive main infrastructure works, including roads, drainage systems, water reticulation, sewerage, KUALA LUMPUR (Dec 16): Advancecon Holdings Bhd (KL:ADVCON) has bagged a main infrastructure work contract worth RM44.

This partnership follows the success of two CLQ projects in Ipoh.

Advancecon said it intends to fund the contract via internally generated funds and/or external borrowings.

Advancecon, an earthworks and civil engineering specialist, will contribute its technical, sales and marketing expertise for the execution of the JV's projects, focusing on upgrading and constructing new centralised labour quarters.

Prior to the current earthworks contract for the Gamuda Gardens Park project, Advancecon had previously completed earthworks for the adjacent Gamuda Gardens township in Rawang in 2020.

The group’s 51%-owned indirect unit Spring Energy Sdn Bhd accepted the subcontract from CCC-ECRL on Wednesday for the construction and completion of subgrade works, Section 8 from CH518+388.

Last month, Advancecon won a RM22.

Under the JV, Perak Corp will be entitled to a revenue share of 35% based on the net development value while Advancecon will be entitled to 65%.

Advancecon had in an earlier filing on May 29 notified that Yeo was not re-elected at the group’s 26th annual general meeting, though he continued to remain as the COO.

The job will start from April 29 and is expected to complete in September.