PETALING JAYA: Construction firm Nestcon Bhd
has bagged a RM37.7mil earthworks contract from a unit of Permodalan Nasional Bhd (PNB) for a development in the Kota Seri Langat township.
Nestcon’s subsidiary, Nestcon Infra Sdn Bhd, accepted a letter of award (LoA) from Seriemas Development Sdn Bhd to undertake earthworks, soil improvement and other associated works for remaining works of Package 4-2 in Kota Seri Langat, Banting, Selangor.
Seriemas Development is a subsidiary of PNB Development Sdn Bhd, which in turn is PNB’s property arm. The 10-month contract will commence on June 10, 2024 and will be completed on April 10, 2025.
“The acceptance of the LoA by Nestcon Infra to undertake the contract works is expected to contribute positively to the net assets per share, earnings per share and gearing of the company throughout the duration of the contract works,” Nestcon said in a filing with Bursa Malaysia.
The counter was up 1.25% as it closed at 40.5 sen. About 1.2 million shares changed hands.
