It said its unit Kumpulan Ikram Sdn Bhd received a letter of appointment for a period of three years with an option to renew for a further two years, at an estimated price of RM25mil per year.
Protasco added that the price was subject to actual consumption to be consumed by the Government pursuant to the master service agreement.
“Under the agreement, the services to be provided by Ikram, with effect from Jan 1, 2016, shall cover all slope failures 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,” it said.
The appointment is expected to contribute positively to the future earnings and net assets of the Protasco group.
Protasco shares gained 3 sen to close at RM1.63 on Wednesday.
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