Advancecon secures RM86 mil construction job for PKNS's Sierra Alam project

KUALA LUMPUR (April 11): Earthworks and civil engineering service provider Advancecon Holdings Bhd has bagged an RM86 million construction contract from Perbadanan Kemajuan Negeri Selangor (PKNS) for Phase 1 of its Sierra Alam development in Section U10, Shah Alam, Selangor.

The 24-month job involves earthworks, major infrastructure and other related works, according to Advancecon's bourse filing on Thursday, after its wholly-owned Advancecon Infra Sdn Bhd accepted the letter of acceptance from PKNS on the same day.

AISB is principally involved in the business of providing earthworks and civil engineering services, it said, adding it intends to fund the contract via internal funds and/or external borrowings.

Advancecon's shares closed 0.5 sen or 2.08% lower at 23.5 sen on Thursday, giving the group a market capitalisation of RM137 million.