KUALA LUMPUR (May 16): Engineering services group Seremban Engineering Bhd (SEB) has bagged a RM39.8 million contract to undertake civil, structural and architectural works and electrical works in Shah Alam.

In a bourse filing, Seremban Engineering said the one-year contract awarded by Kerry Ingredients (M) Sdn Bhd is expected to commence on July 29.

It expects this contract to contribute positively towards the group’s earnings and net assets for the financial year ending June 30, 2024 and until the completion of the contract.

The contract will be funded via internally generated funds and project financing as and when required, it added.

SEB is principally engaged in the business of fabrication of process equipment, steel structures, civil engineering, provision of maintenance service and shutdown works.

SEB's share price was last traded at 75 sen on May 15, valuing the company at RM60 million.