Nestcon Bhd, via its unit Nestcon Infra Sdn Bhd, has secured a RM37.7 million contract from Seriemas Development Sdn Bhd for construction works on a development project in Kota Seri Langat in Banting, Selangor.

KUALA LUMPUR (June 6): Nestcon Bhd (KL:NESTCON) has secured a RM37.7 million contract for construction works on a development project in Kota Seri Langat in Banting, Selangor.

In a bourse filing on Thursday, the construction outfit stated that its wholly-owned subsidiary, Nestcon Infra Sdn Bhd, has accepted a letter of award (LOA) from property developer Seriemas Development Sdn Bhd to undertake the construction and completion of earthworks, soil improvement, and associated works for package 4-2 of the proposed development.

The work is set to commence on June 11 and is expected to be completed within ten months, by April 10, 2025, Nestcon said, adding that the defect liability period will be 12 months from the date of the certificate of practical completion of the contract works.

“The board is of the opinion that the LOA and the contract works are within the ordinary course of business of the company and the acceptance of the LOA is in the best interest of the company," it said.

Nestcon’s shares closed half a sen or 1.25% higher at 40.5 sen on Thursday, translating to a market value of RM286.82 million.