KUALA LUMPUR (April 23): Salcon Bhd's wholly-owned unit Salcon Engineering Bhd (SEB) has secured a RM39.8 million works package from Pengurusan Aset Air Bhd (PAAB) to supply and install mild steel pipes for the Langat 2 Water Treatment Plant and Water Reticulation System.
The 12-month contract is scheduled for completion on May 15, 2020, and the installation will start from the AU3 reservoir to the existing reticulation system at Jalan Jelatek and Jalan Enggang, Salcon said in a statement today.
This project win comes a month after the group bagged a RM124.7 million water treatment plant contract in Sabah for the capacity expansion of the Telibong II water treatment plant.
Both projects are expected to contribute positively towards Salcon's earnings, said Salcon.
"These two projects will boost Salcon's order book to RM510 million and we look forward to more positive news flows in the coming months," Salcon's chief operating officer Ooi Cheng Swee said.
Currently, the group has tendered for RM1.8 billion worth of water and wastewater projects, both locally and overseas in Sri Lanka, Thailand and Vietnam, its statement read.
Salcon shares declined 0.5 sen or 1.75% to close at 28 sen today. The group has a total market capitalisation of RM229.2 million. Year to date, the stock has climbed near 17%.
https://www.theedgemarkets.com/article/salcon-bags-rm398m-langat-2-pipe-installation-package
