KUALA LUMPUR: PTT Synergy Group Bhd
's wholly owned subsidiary PTT Infra Sdn Bhd has accepted a contract from Topicana Development (Johor Bahru) Sdn Bhd to undertake common infrastructure works in Jeram Batu in Pontian, Johor, amounting to RM53.8mil.
The construction group said in a filing with Bursa Malaysia that the works was in respect of Phase 1 of the proposed industrial layout and facilities.
"The acceptance of the letter of award is in the ordinary course of business of PTT.
"Further, it is also carried out at arm’s length and based on commercial terms which are not more favourable than those available to the general public," it said.
It added that the contract is expected to contribute positively to PTT Group's earnings over its duration.
At market close, PTT last traded two sen or 2.12% lower at 92.5 sen a share on the back of 60,400 units traded.
