KUALA LUMPUR (Nov 9): Vestland Bhd has secured a RM240 million contract to undertake the main building works, mechanical and electrical and external works for two blocks of council homes in Taman Desa, Kuala Lumpur.

In a local bourse filing on Thursday, the construction company said its wholly owned subsidiary Vestland Resources Sdn Bhd (VRSB) had secured the award from Ambang Besar Sdn Bhd.

According to the group, the completion of the construction work will be 30 months from the site possession.

“The contract is expected to contribute positively toward the earnings and net assets of the Vestland group for the duration of the contract,” it said.

Shares in Vestland closed half a sen or 1.45% higher at 35 sen on Thursday, giving it a market capitalisation of RM325.79 million.