KUALA LUMPUR (June 22): Piling and foundation outfit Aneka Jaringan Holdings Bhd has secured two contracts with a combined value of RM168 million to undertake substructure works for a service apartment and mall project in Taman Overseas Union, Kuala Lumpur.

In a Bursa Malaysia filing on Thursday (June 22), Aneka Jaringan said its wholly-owned subsidiary Aneka Jaringan Sdn Bhd has accepted two letter of awards from Overseas Union Garden Sdn Bhd (OUGSB) on June 20 and 22.

The contracts involve substructure works for the construction of a 16-storey mall, seven-storey car park and service apartments in Taman Overseas Union. The contract for substructure works for the service apartments is valued at RM97.82 million, while the one for the mall is valued at RM70.18 million.

"Both substructure works shall be completed within 23 months from the date of commencement. However, the date of commencement and completion date for both substructure works shall be notified by OUGSB in writing," it noted.

The group said that the contracts are in the company's best interest after considering all aspects, it added.

In a statement issued on the contracts, Aneka Jaringan’s managing director Pang Tse Fui said that the group’s order book has continued to grow.

“We previously successfully secured three new projects totalling RM46.46 million in April. We have no doubt that as the Malaysian economy continues to expand, construction activities will also continue to grow,” said Pang.

He added that Aneka Jaringan is also increasing its capacity in Indonesia through the acquisition of machinery. Increased economic activities in the republic have also brought about many opportunities in both the government and private sectors that Aneka Jaringan intends to capitalise on, he said.

On a separate matter, Aneka Jaringan has also successfully placed the first tranche of its private placement exercise, comprising 46.3 million placement shares on June 22. The amount that was raised through the exercise was RM7.6 million.

As of June 22, Aneka Jaringan has secured a total of RM280.2 million in new projects, with local projects contributing RM266.5 million, while the remainder comes from Indonesia.

Shares in Aneka Jaringan closed unchanged at 21.5 sen on Thursday, valuing the company at RM124.62 million.