PETALING JAYA: Rivertree STF Synergies Bhd has secured a RM2.26mil contract for earthwork and piling works linked to a labour quarters development project.
In a filing with Bursa Malaysia, the group said its wholly owned unit, RSSB Builders Sdn Bhd, had accepted a letter of award from Q Centre (Teratai) Sdn Bhd for works involving two blocks of labour quarters with a capacity of 4,560 beds.
The project also includes a gymnasium and a shop unit.
Construction commenced on Feb 3, 2026 and is slated for completion by June 30, with a five-month timeline.
The contract carries liquidated damages of RM3,500 per day for delays and a 12-month defects liability period.
Rivertree STF said the contract is part of its ordinary course of business and is expected to contribute positively to earnings for the financial year ending June 30, 2026, without materially affecting its gearing.
The group noted that several of its directors and major shareholders have interests in Q Centre (Teratai), and have abstained from deliberations on the award.
The audit committee deemed the deal fair and in the group’s best interest.
