Muhibbah wins new contract worth RM116.4mil

KUALA LUMPUR: Muhibbah Engineering (M) Bhd has secured a construction contract worth RM116.4mil from the Institute of Technology PETRONAS Sdn Bhd, a subsidiary of Petroliam Nasional Bhd.

In a filing with Bursa Malaysia, Muhibbah said the contract was for the proposed construction and completion of student accommodation and student centre at Universiti Teknologi Petronas in Perak.

The contract is scheduled to commence on Dec 15, 2022 and is expected to be completed within 30 months from the commencement date.

“The contract is expected to contribute positively to the earnings and net assets of the Muhibbah group for the current and future financial years,” it said.

Earlier this week, Muhibbah via a consortium, has accepted a RM322mil project award from Petronas Carigali Sdn Bhd related to the Gansar Project, 190 kilometres offshore Terengganu.

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