KUALA LUMPUR – Advancecon Holdings Bhd’s wholly owned unit, Advancecon Infra Sdn Bhd (AISB), has received a letter of acceptance from China Communications Construction (ECRL) Sdn Bhd for the proposed construction and completion of subgrade works in Package 3, Section 4 of the East Coast Rail Link, for RM60.58 million.
The contract period is from March 1 this year until April 15, 2023, said Advancecon in a filing with Bursa Malaysia today.
AISB is principally involved in the business of providing earthworks and civil engineering services.
The contract is expected to contribute positively to the future earnings of the Advancecon group for the duration of the contract, and will not have any effect on the share capital and substantial shareholders’ shareholdings of the group.
“The group intends to fund the contract works via internally generated funds or external borrowings.” – Bernama, January 26, 2021
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