PETALING JAYA: Nestcon Bhd
has secured a contract in respect of the earthworks on Lot 863/864, partial of Lot 602 and Lot 610, covering an area of 242 acres in Hulu Selangor, Selangor, worth RM100mil.
In a filing with Bursa Malaysia, Nestcon said the project is part of the first-phase development within the 800-acre Beringin High-Tech Auto Valley ecosystem, anchored by the 200-acre Chery Smart Auto Industrial Park in Lembah Beringin.
“The development aims to create an integrated automotive township that attracts talent, investment, and innovation, positioning Hulu Selangor as a regional hub for world-class automotive manufacturing and cutting-edge technologies.”
Nestcon said the commencement of the contract will be on April 3, 2025 and is expected to be completed by July 2, 2026.
The company said the contract is expected to contribute positively to its net assets per share, earnings per share and gearing throughout the duration of the works.
“The company does not foresee any exceptional risk other than the normal operational risks associated with the letter of award and / or the works. Nevertheless, the company will take the necessary steps to mitigate the risks as and when they occur.”
