In its filing with Bursa Malaysia on Wednesday, Protasco said its unit, Kumpulan Ikram Sdn Bhd received a letter of appointment from the Ministry of Works Malaysia to provide forensic engineering services on slopes and slope related structures.
The contract is for a period of three years with the option to renew for a further two years. Protasco said the contract price is estimated at RM25mil per annum, subject to actual consumption by the Government.
“Under the Agreement, the services to be provided by Ikram, with effect from Jan 1, 2016 shall cover all slopes failure throughout Malaysia except for Federal roads, roads that are currently under privatised concession agreements (toll roads) and those pending completion by the Government or Government agencies,” the company said.
It added that the contract would positively contribute to its future earnings and net assets.
Shares in Protasco were one sen higher to RM1.61 at 12.30pm today.
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