PETALING JAYA: Asteel Group Bhd
has secured a work order from H.N. Lau Agency Sdn Bhd for the proposed construction of a three-storey multi-level logistics complex at Shah Alam, Selangor worth RM15.8mil.
In a filing with Bursa Malaysia, Asteel said the project involves supply of labour, supervision and tools for the execution and completion of structural reinforced concrete works.
The company said the construction time will be 11 months from the commencement date.
“The project enables Asteel to enhance its project reference and provide a competitive advantage in future construction projects.
“Barring unforeseen circumstances, the project is expected to contribute positively to the earnings and earnings per share of the Asteel Group for the next financial year.”
Asteel said risk factors affecting the project include execution risks such as availability of skilled manpower, availability of funding, weather conditions and/or political, economic and regulatory conditions.
