Prestar secures RM80mil highway contracts


  • Corporate News
  • Thursday, 02 Jul 2020

Prestar group managing director Datuk Toh Yew Peng said the agreements and contracts are expected to contribute positively towards the future earnings of the company and the group for the financial years ending Dec 31,2020 and 2021, or until the expiry of the respective agreements and the contracts.

PETALING JAYA: Steel products and equipment maker Prestar Resources Bhd has secured RM80mil worth of contracts to supply guardrails and accessories for the development and upgrading of the proposed Pan Borneo Highway in Sarawak.

In a statement yesterday, the company said its wholly-owned subsidiary Prestar Engineering Sdn Bhd (PESB) had entered into two supply agreements with Pansar Co Sdn Bhd and was also awarded the contracts from LTC West Gate Sdn Bhd and Kemakmuran 2000 Sdn Bhd to supply and deliver guardrails and accessories for the Pan Borneo Highway project.

“Pursuant to the agreements and contracts awarded, PESB will supply and deliver guardrails and accessories to four work packages for the Pan Borneo Highway project, namely the Pantu Junction to Batang Skrang stretch, Sungai Kua Bridge to Sungai Arip Bridge, Semantan to Sungai Moyan Bridge and Sungai Awik Bridge to Bintagor Junction.”

“These agreements and contracts will cover the supplies of guardrails and accessories to the customers until Dec 31,2021, ” the company said.

In the same statement, Prestar group managing director Datuk Toh Yew Peng said the agreements and contracts are expected to contribute positively towards the future earnings of the company and the group for the financial years ending Dec 31,2020 and 2021, or until the expiry of the respective agreements and the contracts.

“Prestar will continue to participate in the open tender for the supply of guardrails for future packages of Pan Borneo Highway in Sabah, ” he said.

The Pan Borneo Highway is a road network on Borneo Island connecting Sabah and Sarawak, with Brunei and Kalimantan region in Indonesia. Work on the Pan Borneo Highway in Sarawak, which spans 786.41km, was awarded in 11 packages and construction began in October 2015. Prestar’s subsidiaries and associate companies are mainly engaged in steel processing and steel product manufacturing activities with factories in Malaysia and trading offices and warehouses in Indonesia and Thailand.

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