PETALING JAYA: Varia Bhd
has accepted a letter of award from Kator Construction Sdn Bhd for a flood mitigation project in Segamat, Johor, worth RM410.30mil.
In a filing with Bursa Malaysia, Varia said its wholly-owned subsidiary, Pembinaan Teguh Maju Sdn Bhd, had been appointed the sub-contractor of the project.
“The commencement and completion dates for the contract shall align with the main contract’s timeframe, for a period of 60 months from the date of commencement on July 23, 2024 until the date of completion on July 22, 2029.
“The contract is expected to contribute positively to the earnings of Varia Group for the relevant financial periods within the duration of the contract.
Varia said the contract will not have any effect on the share capital and shareholding structure of the company.
“The risk factors affecting the contract include changes in economic, political and regulatory environment and general operational risks. The Group will take appropriate measures to mitigate such risks.”
