PETALING JAYA: Adnex Group Bhd's wholly owned subsidiary, Adnex Interior Solution Sdn Bhd (AIS), has secured a RM10.96mil subcontract for an interior design fit-out project at Sunway Square Corporate Tower 1.
In a bourse filing yesterday, Adnex said AIS had entered into the subcontract agreement with JLL Project and Construction Management Sdn Bhd, the project's general contractor, for works to be carried out for Hilti Asia IT Services Sdn Bhd.
The five-month project commenced yesterday and is scheduled for completion on Dec 24. Under the agreement, the project will be subject to a 12-month defects liability period beginning from the date of practical completion.
AIS, which specialises in interior fit-out services, will undertake the works in accordance with the terms of the subcontract agreement and JLL's project requirements.
Adnex said the contract is in line with the group's ongoing efforts to secure new projects and expand its order book, which is expected to contribute to future revenue and earnings.
The company said the subcontract is expected to have a positive impact on its future earnings and net assets, but will not affect its share capital or substantial shareholders' shareholdings.
