Coastal Contracts’ shares dip on scepticism over Pulau Mabul resort venture
Coastal Contracts announced it is investing RM19.
Coastal Contracts announced it is investing RM19.
On Thursday, Econpile announced that it had been awarded earthworks contract worth RM83 million from BRDB Developments Sdn Bhd.
Coastal Contracts said the acquisition is part of the group’s strategy to deliver its long-term sustainable growth and value creation to its shareholders as well as to diversify its income streams by identifying and engaging in new viable business.
The independent review was carried out at the request of Baker Tilly to determine the possibility of related party transactions concerning JV and turnkey contracts entered into by YNH.
In a Bursa Malaysia filing on Thursday, the construction company said the contract period is 26 months starting on Oct 15, 2023.
Global Marine was awarded the sub-contract of the project by Vista Infinity Development Sdn Bhd, which secured the project from the Ministry of Natural Resources, Environment and Climate Change.
In a bourse filing, the construction outfit said its wholly-owned subsidiary Pesona Metro Sdn Bhd accepted the letter of award from KL Wellness City (H) Sdn Bhd.
In a bourse filing, Kimlun said its wholly-owned subsidiary Kimlun Sdn Bhd has accepted the award of two contracts from Horizon Hills Development Sdn Bhd.
The job will start from April 29 and is expected to complete in September.
The claims by the ex-contractor, Kencana Amanjaya Sdn Bhd, are baseless and frivolous, said OCR in a statement on Thursday (April 20), adding that it has instructed its solicitors to contest the matter to fully defend its interest.