Advancecon bags RM21mil ECRL contract

The company's net profit improved by 5.7% year-on-year to RM42.9mil from RM40.6mil before.

PETALING JAYA: Advancecon Holdings Bhd’s 51%-owned indirect subsidiary, Spring Energy Sdn Bhd (SESB), has secured a RM21.19mil subcontract from China Communications Construction (ECRL) Sdn Bhd for the construction and completion of subgrade works, Section 8 from CH518+388.00 to CH519+000.00.

In a filing with Bursa Malaysia, Advancecon noted the subcontract will be completed on Dec 31, 2024 from the date of acceptance. It said the subcontract is expected to contribute positively towards its future earnings for the duration of the subcontract.