PETALING JAYA: Vestland Bhd
has accepted a letter of award from Pembinaan Rizen Sdn Bhd for RM225.07mil worth of works involving river widening, structural works and associated works under the Integrated River Basin Development Project in Kelantan.
In a filing with Bursa Malaysia, Vestland said the completion of the contract works shall be on Oct 14, 2028, with the commencement date on Oct 28, 2026.
“The contract will have no effect on the issued share capital and substantial shareholders’ shareholdings of the company as there is no issuance of new ordinary shares in the company.
“The contract is expected to contribute positively towards the earnings and net assets of the company and its subsidiaries for the duration of the contract, assuming no material delay in the timing.”
Vestland said its board of directors are of the opinion that the contract is in the best interest of the group.
