Advancecon to buy 51% in Spring Energy for RM30.4mil

“This addition also sharpens our competitive edge by expanding our assets and human capital resources, which would position us more favourably when tendering for large-scale projects and increasing our competitiveness, ” group chief executive officer Datuk Phum Ang Kia (pic) said.

KUALA LUMPUR: Advancecon Holdings Bhd is acquiring 51% majority stake in quarry operator Spring Energy Resources Bhd for RM30.4mil to expand the potential reach of its earthworks and civil engineering services.

The civil engineering services specialist said the stake would be acquired from Spring Energy’ investment holding company, Fook Hua Holdings Sdn Bhd.