KUALA LUMPUR: Citaglobal Bhd's wholly owned subsidiary, Citaglobal Powergen Sdn Bhd, has secured a RM50.94 million contract from NL Builder Sdn Bhd and Avos (Malaysia) Sdn Bhd.

In a filing with Bursa Malaysia, Citaglobal said the sub-contract from NL Builder is valued at RM19.34 million and involves the construction of a riverwall from Kampung Lintang to Kampung Tupong, Kuching, Sarawak, over a period of 20 months.

Meanwhile, the contract from Avos (Malaysia) is for the construction and completion of infrastructure works for the redline from Kuching Sentral to Pending as part of the Kuching Urban Transportation System (KUTS) project, valued at RM31.60 million, also for 20 months.

These contracts are expected to positively impact Citaglobal's future earnings and net assets per share for the financial years ending Dec 31, 2024, 2025, and 2026.