Advancecon shares fall despite securing new contract

KUALA LUMPUR:Advancecon Holdings Bhd’s shares fell 1.3% in morning trade despite securing a RM370mil West Coast Expressway contract.

The counter eased 1.32%, or one sen with over two million shares traded amid a weak broader market.

Advancecon has secured its single-largest contract win of RM370.1mil to undertake earthworks and civil works for the West Coast Expressway (WCE) project.

The group said its wholly-owned unit, Advancecon Infra Sdn Bhd (AISB), was awarded the contract by West Coast Expressway Sdn Bhd.

AISB will undertake the job at the stretch of WCE from the Assam Jawa Interchange to the Tanjung Karang Interchange.

Under the contract, Advancecon's scope of work includes earthworks, ground treatment works, drainage and box culverts, pavements, bridges, road furniture, erosion sediment and control plan, environmental protection and enhancement.

“The contract period shall be for a period of 30 months commencing from the date of site possession which will be determined later,” it said.

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