KUALA LUMPUR: Nestcon Bhd
’s subsidiary, Nestcon Borneo Sdn Bhd (NBSB), has received a RM44.12mil contract from Matrix Excelcon Sdn Bhd for site clearing and earthworks in Labu, Negri 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 Nestcon.
The sub-contract works will begin on May 15, 2025, and are expected to be completed within 32 months, by Jan 14, 2028.
Nestcon expects the contract to contribute positively to its net assets per share, earnings per share, and gearing throughout the duration of the works.
