News about construction

The group has 17 ongoing construction projects, with an outstanding order book of approximately RM1.

As of Jan 31 this year, Binastra had 15 ongoing construction projects, with an outstanding order book of RM1.

As of March 31, Nestcon had recorded an unbilled order book of RM1.

The cutting of blanket diesel subsidies has increased the cost of construction materials like quarry products and ready-mix concrete, indirectly affecting the industry, as the majority of construction contracts are fixed-price lump sums, said MBAM and PKBM in a joint statement on Thursday.

Top Builders had failed to issue its annual report including audited financial statements for the financial year ended June 30, 2022 (FY2022), by the deadline of Oct 31, 2022, said Bursa Securities in a statement on Friday.

The construction outfit stated that its wholly-owned subsidiary, Nestcon Infra Sdn Bhd, has accepted a letter of award (LOA) from property developer Seriemas Development Sdn Bhd to undertake the construction and completion of earthworks, soil improvement, and associated works for package 4-2 of the proposed development.

The group said the contract period is for 23 months, and is divided into two phases, with the first phase comprising 124 units of houses and the second phase consisting of 50 units.

RHB IB said that with more contractors venturing into the DC construction market, players should develop their own respective niche in the DC supply chain.

MRCB said it plans to focus on boosting cash flow by monetising its unsold completed stock, which amounted to RM342.

The stock surged as much as 11.