Saturday 14 Dec 2024
By
main news image

KUALA LUMPUR (Jan 30): Salcon Bhd has secured a 20-month work order for a mixed development at Jalan Segambut here. The contract is worth RM18.95 million from China State Construction Engineering (M) Sdn Bhd (CSCE).

In a filing with Bursa Malaysia, Salcon said its 60%-owned subsidiary Envitech Sdn Bhd accepted the work order yesterday (Jan 29), which involves the construction of two blocks of service apartments, one 53 storeys and the other 55 storeys, their facilities, one guard house, and one unit of electrical substation.

Salcon's stake in Envitech is held via wholly-owned subsidiary Salcon Engineering Bhd.

Salcon said the commencement date will be advised by CSCE at a later date, and that the contract is expected to contribute positively to its earnings for the financial years ending Dec 31, 2018 (FY18) and FY19.

Salcon’s shares slipped one sen or 2.1% to close at 46.5 sen today, giving it a market capitalisation of RM316.61 million.

      Print
      Text Size
      Share