PETALING JAYA: Nestcon Bhd
has secured a contract from EXSIM Waterfront Sdn Bhd to undertake the main building and infrastructure works for a 57-storey serviced apartment project in George Town, Penang, worth RM243mil.
In a filing with Bursa Malaysia, the construction firm said the date of commencement for the contract shall be Jan 18, 2027.
“The overall completion period for the main building and infrastructure works shall be 35 months from the date of commencement. Accordingly, the completion date shall be Dec 17, 2029.”
Nestcon said the contract is expected to contribute positively to the net assets per share, earnings per share and gearing of the company throughout the duration of the main building and infrastructure works.
“The company does not foresee any exceptional risk other than the normal operational risks associated with the contract and / or the main building and infrastructure works.
“Nevertheless, the company will take the necessary steps to mitigate the risks as and when they occur.”
