PETALING JAYA: Varia Bhd
’s wholly-owned subsidiary Pembinaan Teguh Maju Sdn Bhd has secured a RM61.45mil contract from Kemuncak Pesaka Sdn Bhd for the construction of facilities at Sultan Azlan Shah campus at Sultan Idris Education University in Tanjong Malim, Perak.
In a filing with Bursa Malaysia, the group said the building works include the completion of student dormitories, an international and mobility centre, language skill centre, support spaces and external infrastructure.
The contract is for a period of 31 months from the date of commencement on Aug 19, 2024, until the date of completion on March 31, 2027.
The group said the contract is expected to contribute positively to the earnings of Varia for the relevant financial periods within the duration of the contract.
“The contract will not have any effect on the share capital and shareholding structure of Varia.”
Varia said the risk factors affecting the contract include changes in economic, political and regulatory environment and general operational risks.
