PETALING JAYA: Ireka Corp Bhd
has accepted a letter of award (LoA) from Gammerlite Sdn Bhd in relation to sub-contract works for the Sabah Pan Borneo Highway Project Phase 1B, worth RM1.07bil.
In a filing with Bursa Malaysia, Ireka said the sub-contract is for upgrading works to the road from Kampung Lomou Baru to Kampung Toupus (WP33), which will be for a period of 48 months from Sept 30.
Following the acceptance of the LoA, Ireka said it will be required to execute an Articles of Agreement on the terms and conditions therein within 45 days from the date of the LoA.
It said the contract will enhance its existing order book and is expected to provide a steady stream of revenue and income to the group over the next four years.
“The project is expected to contribute positively to the net assets and earnings per share of the group for the financial year ending June 30, 2025 and onwards until the completion of the project.”
