Advancecon wins Sime Darby Prop contract

PETALING JAYA: Advancecon Holdings Bhd has accepted a letter of acceptance (LoA) from Sime Darby Property (Bukit Jelutong) Sdn Bhd worth RM25.35mil to undertake main infrastructure works for Tiara Residences in Seksyen U8, Shah Alam, Selangor.

In a filing with Bursa Malaysia, the earthworks and civil engineering firm said the LoA was received by its wholly-owned subsidiary, Advancecon Infra Sdn Bhd.

“There are no foreseeable significant risks other than operational risk associated with the contract during the contract period.

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

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