Nestcon wins contract worth RM165mil

KUALA LUMPUR: Nestcon Bhd’s wholly-owned subsidiary Nestcon Infra Sdn Bhd has secured a contract worth RM165.08mil from BARA Mining & Construction Sdn Bhd.

In a filing with Bursa Malaysia, Nestcon said Nestcon Infra had been appointed as contractor to provide site clearance, earthwork and ancillary works on CBS 2, Block 1, Sungai Bakau, Balingian Coalfield, Mukah Division, Sarawak.

Nestcon said the letter of award (LOA) shall be in force for an initial term of 24 months effective from Sept 20, 2022 to Sept 19, 2024, with an option to extend for an additional period of 24 months upon written notice not later than 30 days prior to the expiration of the initial term.

“The acceptance of the LOA by Nestcon Infra to undertake the project is expected to contribute positively to the net assets per share, earnings per share and gearing of the company for the financial year ending Dec 31, 2022 and throughout the duration of the project,” it said.