Friday, 13 October 2017 | MYT 12:00 AM
SunCon gets RM75mil Ahmad Zaki contract
PETALING JAYA: Sunway Construction Group Bhd (SunCon) has secured a RM74.77mil contract from Ahmad Zaki Resources Bhd to provide earthworks and piling services.
In a filing with Bursa Malaysia, the construction outfit announced that the 10-month contract is related to a proposed mixed development off Jalan Pudu, Kuala Lumpur.
Besides this contract, SunCon has signed a letter of intent issued by Chiu Teng Construction Co Pte Ltd to supply and deliver precast components for a Clementi Neighbour-hood property project.
This contract, to be completed in 21 months, is valued at S$20.88mil (RM65.1mil).
“Both contracts are expected to contribute positively to the earnings of the SunCon group from the financial year ending Dec 31, 2017 onwards.
“Upon the award of the works, SunCon’s outstanding order book to date amounts to RM6.7bil.
“The works are subject to the normal construction risk of material price fluctuations. However, with the past experience and expertise of Sunway Geotechnics in bored piling projects and Sunway Concrete in the supply of precast components, this risk could be mitigated,” said SunCon.
SunCon’s share price has increased by nearly 40% year-to-date on the back of the big-ticket construction projects won by the company this year.