KUALA LUMPUR (Nov 5): Construction firm Aneka Jaringan Holdings Bhd (KL:ANEKA) has secured a RM39 million contract to undertake earthwork, piling, pile caps and contiguous bored piling works in Jalan Pantai Sentral, Kuala Lumpur.

The three-phase contract was awarded to its wholly-owned subsidiary, Aneka Jaringan Sdn Bhd, by GDP Architects Sdn Bhd on behalf of Murni Lapisan Sdn Bhd, the company said in its filing to Bursa Malaysia.

The contract is set to commence on Nov 7, 2024, with completion expected by Mar 6, 2026, according to the bourse filing. 

Phase one of the contract is for the two office blocks, both including mechanical and electrical (M&E) levels. 

Phase two is for the 43-storey serviced apartment block (438 units) with M&E and amenity floors above the phase one podium, along with amenity levels on floors 28 and 45.

Meanwhile, phase three will be for the 33-storey serviced apartment block (290 units) with M&E and amenity floors above the phase one podium.

The contract is anticipated to positively impact the company’s consolidated earnings and net assets over the financial years ending Aug 31, 2025 (FY2025) and FY2026, Aneka Jaringan noted. 

"The company does not foresee any exceptional risks other than the normal operational risks associated with the subcontract. The company will take the necessary steps to mitigate the risks," it said.

Shares in Aneka Jaringan remained unchanged at 15 sen at the market's noon break, valuing the company at RM101.41 million. Year to date, the stock has declined by 25%.