PETALING JAYA: Meta Bright Group Bhd
’s 70% wholly-owned subsidiary, Expogaya Sdn Bhd has bagged a materials supply contract valued at RM15.51mil from China Communications Construction Co (M) Sdn Bhd.
The latter is a wholly-owned subsidiary of China Communications Construction Co Ltd (CCCC).
In a statement, the group noted the contract was awarded to Expogaya’s wholly-owned unit, Jesselton Concrete Sdn Bhd.
Under the contract, Jesselton will be the priority supplier of various grades of ready-mixed concrete for the ESTEEL Ore Terminal Project in Sabah.
Jesselton will also manage the logistics, bearing all freight and transportation risks.
The group added there will be an upfront 100% payment requirement for each order, as to reduce the credit risk exposure.
Meta Bright’s corporate and strategic planning executive director, Derek Phang Kiew Lim, said the contract was a meaningful validation of the group’s capabilities.
“More broadly, this contract adds to our order visibility across Sabah’s expanding industrial and infrastructure sectors.
“We remain focused on disciplined execution and converting East Malaysia’s infrastructure demand into sustainable, recurring earnings for our shareholders.”
