Silver Ridge's unit bags RM168.83mil Melaka cruise terminal contract

KUALA LUMPUR: Silver Ridge Holdings Bhd’s (SRHB) 51-per cent subsidiary, Total SR Web 3.0 Sdn Bhd, has secured a RM168.83 million contract from Melaka International Cruise Terminal Sdn Bhd to construct the Melaka International Cruise Terminal.

In a filing with Bursa Malaysia today, SRHB stated that the contract, outlined in the letter of award, encompasses piling, superstructure works, mechanical and engineering services.

"Scheduled to commence on May 24, 2024, and slated for completion by August 23, 2025, the contract is anticipated to have no significant impact on the company’s issued and paid-up capital, substantial shareholders' shareholding, net asset per share, or gearing of the company and its subsidiaries," it said.

Barring unforeseen circumstances, SRHB expects the contract to positively impact its earnings per share and future earnings for the financial year ending June 30, 2025. - Bernama