Protasco gets revised contract of RM171.84mil for roadworks

KUALA LUMPUR: Protasco Bhd’s 70%-owned subsidiary, Permint Granite-HCM Sdn Bhd has entered into a supplementary agreement with Terengganu State Government to supplement the principal agreement which was entered between the parties in 2017.

Under the principal agreement, the Terengganu State Government awarded Permint Granite-HCM a five year contract to maintain minor roads in Terengganu, at a total contract sum of RM49.9mil, which expired in April 2022.

Protasco said under the new agreement, the parties have agreed with the addition of emergency works for minor road in facilities and maintenance services.

The contract period has been changed from five years to 10 years until 2027 and the contract sum from RM49.9mil to RM171.843mil.

“The extended contract period for the works is expected to contribute positively towards Protasco’s results for the financial year ending Dec 31, 2022,” Protasco said.