NESTCON'S UNIT BAGS CONTRACT WORTH RM188.5 MLN
KUALA LUMPUR, Jan 19 -- Nestcon Bhd's wholly-owned subsidiary, Netcon Builders Sdn Bhd has been awarded a contract worth RM188.5 million from Konsortium Exsim Development Sdn Bhd (KED) for the development of a residential building.
In a filing with Bursa Malaysia, the company said the contract entails the construction of a 39-storey building, comprising 608 units of apartment suites and three units of retail shop in Jalan Klang Lama, Petaling Jaya.
Under the contract, Netcon Builders will undertake the design, construction, completion, commission, maintenance and guarantee (turnkey) for foundation works, substructure works, main building works and infrastructure works for the development project.
"The overall contract period for the project is within 36 months from the date of commencement and the project is expected to be completed for handover on or before Jan 18, 2025.
"The defects liability period of the project shall be 27 months from the date of the Certificate of Practical Completion of the project," it said.
Nestcon said the project is expected to contribute positively to the net assets per share, earnings per share and gearing of the company for the financial year ending Dec 31, 2022 and throughout the duration of the project.
-- BERNAMA
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