KUALA LUMPUR (April 1): Engineering services company Minetech Resources Bhd has secured a RM4.4 million contract from GLM Emerald Square (Cheras) Sdn Bhd for the construction of external infrastructural and associated works for the Emerald 9 Cheras development in Selangor.

In a bourse filing, Minetech said the letter of award from GLM was accepted by its wholly-owned subsidiary Minetech Construction Sdn Bhd (MCSB) on Friday (April 1).

The group said the project is expected to commence on Friday and shall be completed by Nov 30, 2022.

“There are no foreseeable significant risks other than operational risk associated with the project during the contract period.

“Minetech group’s management would put in place control measures and operational procedures to reduce the impact or likelihood of such events,” it added.

Minetech noted that the project is expected to contribute positively to the revenue, earnings and net assets of the group for the financial year ending March 31, 2023.

Previously, on March 14, Minetech said MCSB bagged a RM9.49 million contract from GLM for the construction of an external link bridge and covered walkway, together with associated works, for the Emerald 9 Cheras development.

Minetech shares closed half a sen or 6.67% higher at eight sen, giving the group a market capitalisation of RM93.25 million.