KUALA LUMPUR (Jan 18): Nestcon Bhd has been appointed as a contractor to undertake the second phase of the construction of remaining earthworks for the proposed development of Senai Airport City in Johor.
In a bourse filing, Nestcon said its wholly-owned subsidiary Nestcon Infra Sdn Bhd (NICB) received the letter of acceptance of tender dated Wednesday (Jan 18) from Senai Airport City Sdn Bhd.
The 15-month project has a provisional contract sum of RM27.26 million. However, Nestcon noted that the final contract sum will be subjected to the confirmation of actual approved contract works to be done and based on unit rates which are fixed for the entire contract period.
Nestcon said the project is expected to contribute positively to the group’s net assets, earnings and gearing throughout the duration of the contract works.
Nestcon's share price closed down 1.5 sen or 2.86% at 51 sen, giving the group a market capitalisation of RM341 million.
Source: TheEdge - 19 Jan 2023
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