KUALA LUMPUR: Varia Bhd's wholly-owned subsidiary, Pembinaan Teguh Maju Sdn Bhd, has secured a RM334.69 million flood mitigation contract from Ikatan Harmoni Sdn Bhd. 

In a filing with Bursa Malaysia today, Varia said the project, located in Kota Tinggi, Johor, is scheduled for contract completion by July 22, 2029.

"The contract is expected to contribute positively to the earnings of Varia Group for the relevant financial periods within the duration of the contract.

"The contract will not have any effect on the share capital and shareholding structure of Varia," it added.