Gadang bags Central Spine road subcontract worth RM100mil

KUALA LUMPUR (Bernama) -- Gadang Holdings Bhd’s wholly-owned subsidiary, Gadang Engineering (M) Sdn Bhd (GESB), has secured a RM100.34 million subcontract works for Central Spine Road Package 2 from Binary Vista Sdn Bhd.

In a filing with Bursa Malaysia, the company said GESB would be the subcontractor to undertake demolition, site clearance, earthwork and access bridge to Kuala Berang, Terengganu.

It said the subcontract is expected to contribute positively to the earnings and net assets of Gadang for the financial year ending May 31, 2022 and onwards, during the duration of the subcontract.

"The risks factors affecting the subcontract comprise mainly the normal operational and execution risks which the group would take appropriate measures to address them,” it added.

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