Suncon bags contracts worth RM86mil

In its filings with Bursa Malaysia, Yong Tai said its wholly-owned subsidiary YTB Impression Sdn Bhd terminated the deal due to non-fulfilment of the condition precedent as stated in clause 3.1(c) of the joint development agreement. Yong Tai fell half a sen to close at 32.5 sen yesterday.

KUALA LUMPUR: Sunway Construction Bhd has secured two contracts worth a combined RM86.4mil.

The latest awards lifted the group's year-to-date project wins to RM867.7mil, teh company said in a statement today.

SunCon has a target to secure at least RM1.5bil worth on new contracts this year.

The first contract was awarded by by S. N. Akmida Holdings Sdn Bhd to SunGeo for bored pile works under package GS10 of the Light Rail Transit 3 project.

The contract is valued at RM47.6mil.

The second job was worth RM38.8mil was awarded by Putrajaya Development Sdn Bhd for earthwork, piling and associated works at the proposed transit oriented development in Putrajaya.

"The projects are subject to normal construction risk of materials price fluctuation. However, with the past experiences and expertise SunGeo and SCSB in construction and bore piling projects, this risk could be mitigated," it said.