Kumpulan Jetson-CCCC JV bags RM202mil SUKE construction deal

New high for Dagang NeXchange Bhd

KUALA LUMPUR: Kumpulan Jetson Bhd and Beijing-based construction firm China Communications Construction Co Ltd (CCCC) have jointly secured a RM201.87mil subcontract to build a stretch of the 31.8km Sungai Besi-Ulu Kelang Elevated Expressway (SUKE).

An unincorporated joint venture between Kumpulan Jetson’s unit Jetson Construction Sdn Bhd and CCCC’s subsidiary CCCC Third Highway Engineering Co Ltd had accepted the subcontract for SUKE CB5 package (construction of mainline and other associated works) from BBSB Holdings Sdn Bhd for that provisional sum.

“The project is expected to contribute positively to the earnings of Jetson and its subsidiaries for financial years ending 2017 to 2019,” the construction and property group told Bursa Malaysia.

Kumpulan Jetson added that the project would not have any effects on its share capital and shareholding structure.

The statement to the exchange did not say whether the joint venture would be on a 50:50 basis or give the duration of the job. 

SUKE is one of the highways being developed by Permodalan Nasional Bhd’s unit Projek Lintasan Kota Holdings Sdn Bhd (Prolintas), which in August last year awarded contracts worth almost RM8bil for the SUKE and Damansara-Shah Alam Elevated Expressway (DASH).

Among the listed companies that clinched SUKE contracts were JAKS Resources Bhd, Gabungan AQRS Bhd, Zelan Bhd and Protasco Bhd.

In December, Econpile Holdings Bhd and CCCC received a letter of award worth RM158.27mil to undertake foundation and substructure works for the SUKE highway.