KUALA LUMPUR (Jan 2): Nestcon Bhd has bagged RM251.5 million in construction works for a mixed development project in Mukim Petaling in the Klang Valley.

In a bourse filing, Nestcon said its wholly-owned subsidiary Nestcon Builders Sdn Bhd had accepted a Letter of Award (LOA) from Altimas Sdn Bhd.

The work under the LOA consists of main building works for the proposed mixed development of parcel 2, one block of 30-storey apartment suites (408 units) and one block of 34-storey apartment suites (526 units) comprising amenities, car parks and shops.

The completion of the contract works is within 34 months, which will commence on Jan 3 and is scheduled for completion by Nov 2, 2026.

Nestcon said the LOA is expected to contribute positively to its net assets per share, earnings per share and gearing throughout the contract works.

Nestcon Builders is principally involved in construction works, while Altimas is engaged in property development.

Nestcon's share price closed unchanged on Tuesday at 37.5 sen, valuing the company at RM256 million.