Inix Technologies’ associate bags RM18mil contract

KUALA LUMPUR: INIX Technologies Holdings Bhd’s associate company, Galatic Maritime Sdn Bhd, has secured an RM18mil sand stockpile and reclamation land project from Meridian Aspect Sdn Bhd. 

In a filing to Bursa Malaysia on Wednesday, it said the project involved dredging, extracting, loading, transporting and discharging marine sand in Pulau Indah, Selangor.

“The project is expected to commence today (Wednesday) and to be completed within the duration of the contract agreed between the main contractor and Galactic,” it said.

Inix said the project would not have material effect on its revenue and earnings for the financial year ending July 31, 2016.

“However, it is expected to contribute positively to the earnings and net asset of the company in future financial years,” Inix added. - Bernama

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