The cutback in public infrastructure spending, coupled with the sustained weakness in the property sector, will have a direct knock-on effect on the demand and hence prices for steel and cement.
KUALA LUMPUR: Ahmad Zaki Resources Bhd
(AZRB) has secured a RM197.96mil contract from PNB Merdeka Ventures Sdn Bhd to build tunnels, flyover and road works.
It said on Thursday its unit Ahmad Zaki Sdn Bhd had accepted a letter of acceptance for the construction of Jalan Hang Jebat, Jalan Stadium (Victoria Institutions) and Chinwoo tunnels, elevated U-Turn and flyover, galloway pedestrian bridge, upgrading of surface road.
The contract works shall start on May 21 and to be completed within 883 calendar days from commencement date.
AZRB said the project was expected to contribute positively to the group’s future earnings.
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