KUALA LUMPUR (Oct 17): Central Global Bhd has secured a RM15.24 million sub-contract to supply plant, machinery, labour and material for a water supply construction project in Lahad Datu, Sabah.
The subcontract was awarded by Mahiribu Sdn Bhd, a third-party main contractor employed by the Ministry of Rural and Regional Development, said Central Global in a stock exchange filing on Tuesday
Central Global, which is 28.9%-owned by its managing director Chew Hian Tat, said the contract work includes site clearing, earthworks, piling works, piping works, and reservoir pumping system.
The group said this contract, which starts on Wednesday and ends on April 16, 2025, will enhance its existing order book and is expected to provide a steady stream of revenue over the next one and a half years.
Shares of Central Global, which has risen by more than three times year-to-date, closed two sen or 0.7% higher at RM2.74 on Tuesday, giving the group a market capitalisation of RM476.41 million.