KUALA LUMPUR: Nestcon Bhd
’s subsidiary, Nestcon Borneo Sdn Bhd (NBSB), has secured a RM44.12mil contract from Matrix Excelcon Sdn Bhd for site clearing and earthworks in Labu, Negeri Sembilan.
In a filing with Bursa Malaysia, Nestcon said the contract covers site clearing and earthworks for a proposed 1,382-acre mixed development in Labu.
NBSB is a 51% owned subsidiary of Nestcon Infra Sdn Bhd, which in turn is a wholly-owned subsidiary of the company.
The sub-contract works will begin on May 15, 2025, and are set to complete in 32 months, by Jan 14, 2028.
Nestcon expects the contract to contribute positively to the company's net assets per share, earnings per share, and gearing throughout the duration of the sub-contract works.
