Advancecon wins RM86.7mil subcontract works

KUALA LUMPUR: Advancecon Holdings Bhd’s wholly owned subsidiary, Advancecon Infra Sdn Bhd (AISB) has secured a subcontract worth RM86.74mil from KEB Builders Sdn Bhd.

In a filing with Bursa Malaysia, the construction company said AISB had accepted the letter of acceptance from KEB Builders for the appointment as the subcontractor for the preliminaries, site clearance and earthworks, geotechnical works, erosion sediment and control plan of Section 7 Part 2 of 2.

Advancecon said the overall subcontract period would be 30 months from Dec 13, 2022.

“Barring any unforeseen circumstances, the subcontract is expected to contribute positively towards the future earnings of Advancecon group for the duration of the subcontract and will not have any effect on the share capital and substantial shareholders’ shareholdings of Advancecon group,” it said.