Advancecon gets RM11.54mil station depot sub-contract

PETALING JAYA: Advancecon Holdings Bhd has secured a sub contract worth RM11.54mil from China Communications Construction (ECRL) Sdn Bhd (CCCSB) for the construction of a depot station.

In a filing with Bursa Malaysia, Advancecon said its 51%-owned indirect subsidiary, Spring Energy Sdn Bhd, had accepted a letter of acceptance from CCCSB.

“The sub-contract period commences on April 29, 2023 and is expected to complete in September 2023.

Barring any unforeseen circumstances, the sub-contract 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.

The group intends to fund the sub-contract via internally generated funds and/ or external borrowings.”