Protasco unit extends road contract

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

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 state government had 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, it said in filing with Bursa Malaysia.

The contract period has been changed from five years to 10 years until 2027 and the contract sum from RM49.9mil to RM171.84mil.