Gadang's unit secures subcontract worth RM131.37mil

KUALA LUMPUR: Gadang Holdings Bhd’s wholly-owned subsidiary, Gadang Engineering (M) Sdn Bhd (GESB) has secured a RM131.37mil contract from Binary Vista Sdn Bhd.

In a filing with Bursa Malaysia, Gadang said the contract was to undertake geotechnical, drainage, and structural works for Central Spine Road, Pakej 2 (subcontract).

The subcontract is for a duration of 30 months and shall be completed by the second quarter of 2024.

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