Nestcon unit wins RM104mil job

PETALING JAYA: Nestcon Builders Sdn Bhd, a subsidiary of Nestcon Bhd, has secured a mixed commercial development contract from Sunrise Charm Sdn Bhd.

Valued at RM103.5mil, the project will be a 45-storey development comprising 172 units of strata offices, 98 units of serviced apartments, car parks and other relevant facilities at Jalan Mayang, Kuala Lumpur.

The overall completion for the job is within 44 months from the date of commencement, which was not disclosed in Nestcon’s filing with Bursa Malaysia yesterday.

The project, which is not subject to shareholders’ approval, is expected to contribute positively to the net assets per share, earnings per share and gearing of Nestcon throughout the duration of the contract.

On its part, Nestcon does not foresee any exceptional risk other than the normal operational risks associated with the contract.