PETALING JAYA: Advancecon Holdings Bhd, which made its debut on the Main Market today, said its unit Advancecon Infra Sdn Bhd (AISB) has been awarded a contract worth RM30.1 million for the development and upgrading works of the proposed Pan Borneo Highway in Sarawak.
AISB is principally involved in the business of providing earthworks and civil engineering services.
Advancecon told the stock exchange, AISB received a letter of award from LM Partners Sdn Bhd, appointing the company as its sub-subcontractor for site clearing, earthworks, excavation in unsuitable materials, sand filling and surface drainage work for the highway project.
The contract is expected to commence from Aug 5, 2017 and completed by Sep 23, 2019.
Barring any unforeseen circumstances, Advancecon said the contract is expected to contribute positively towards its future earnings for the duration of the contract and will not have any effect on the group's share capital and substantial shareholders' shareholdings.
The group said it intends to fund the contract via internally generated funds and/ or external borrowing.
http://www.thesundaily.my/news/2017/07/10/advancecon%E2%80%99s-unit-awarded-rm301m-contract
AISB is principally involved in the business of providing earthworks and civil engineering services.
Advancecon told the stock exchange, AISB received a letter of award from LM Partners Sdn Bhd, appointing the company as its sub-subcontractor for site clearing, earthworks, excavation in unsuitable materials, sand filling and surface drainage work for the highway project.
The contract is expected to commence from Aug 5, 2017 and completed by Sep 23, 2019.
Barring any unforeseen circumstances, Advancecon said the contract is expected to contribute positively towards its future earnings for the duration of the contract and will not have any effect on the group's share capital and substantial shareholders' shareholdings.
The group said it intends to fund the contract via internally generated funds and/ or external borrowing.
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| ADVCON (5281) - Advancecon Holdings Bhd’s unit awarded RM30.1m contract |
http://www.thesundaily.my/news/2017/07/10/advancecon%E2%80%99s-unit-awarded-rm301m-contract
