Puncak Niaga project value in Kuantan revised lower 

KUALA LUMPUR: Puncak Niaga Holdings Bhd has agreed to the lower contract sum for a regional sewerage treatment plant project in Kuantan, Pahang secured two years ago.

The new contract value was revised to RM432.66mil effective July 21, the company said in a filing with Bursa Malaysia today.

Puncak Niaga's wholly owned subsidiary, Puncak Niaga Construction Sdn Bhd (PNCSB), was appointed as the principal sub-contractor for the project on May 2, 2018 in a RM489.9mil deal.

The company told Bursa Malaysia that PNCSB had on Tuesday entered into a supplemental agreement with Jalur Cahaya Sdn Bhd to revise the contract value.

"The Revised Contract Sum arose due to a downwards revision of the Kuantan Project’s contract sum between the Main Contractor and the client, Jabatan Perkhidmatan Pembetungan, Kementerian Alam Sekitar dan Air," it said.

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