PETALING JAYA: Salcon Bhd
has accepted a letter of award from Pengurusan Aset Air Bhd to replace old and damaged pipes in Kota Bharu, Kelantan, worth RM70.52mil.
In a filing with Bursa Malaysia, the water and wastewater engineering company said the contract is for 24 months and is expected to be completed on March 16, 2027.
“The project is expected to contribute positively towards the earnings and net assets of Salcon Group for the financial years ending Dec 31, 2025 and onwards.
“The project will not have any effect on the share capital and substantial shareholders’ shareholding of the company.”
Salcon added that it does not foresee any exceptional risks other than execution risks associated with the project.
“The project is a construction contract and has no option for renewal,” it said.
