More in business

Business

Friday, 13 October 2017 | MYT 12:00 AM

Jetson wins RM76mil contract

PETALING JAYA: Construction and property development firm Kumpulan Jetson Bhd has been given a contract valued at RM76.35mil by China State Construction Engineering (M) Sdn Bhd, a unit of Beijing-based China State Construction Engineering Corp.

The company said in an announcement to Bursa Malaysia that the contract was awarded to 51%-subsidiary Jetson ARDC Sdn Bhd involving work on the structure of a 39-storey tower and a 41-storey tower. It expects the project to contribute positively to the earnings for the financial years ending Dec 31, 2017 to 2020.

Jetson was in the limelight several months ago when MCC Overseas (M) Sdn Bhd terminated a contract of nearly RM1bil with the company after finding out that a member of Jetson’s board as well as a substantial shareholder was also a director of a third-party consultant to the employer of the project.