KUALA LUMPUR (Feb 24): Construction outfit Nestcon Bhd (KL:NESTCON) has bagged a RM58 million contract from ST Dynamo DC Sdn Bhd (STDC) to undertake infrastructure works in Pulai, Johor Bahru.
In a filing with Bursa Malaysia on Monday, Nestcon said its wholly-owned subsidiary Nestcon Infra Sdn Bhd (NISB) has accepted a letter of award (LOA) from STDC for the proposed project.
The project is expected to commence on February 24, with completion on September 25.
"The acceptance of the LOA by NISB to undertake the project is expected to contribute positively to the group's net assets per share, earnings per share and gearing throughout the duration of the project," said Nestcon.
Nestcon shares closed 0.5 sen or 1.25% higher at 40.5 sen on Monday, giving it a market capitalisation of RM289.5 million. The stock has fallen 3.57% so far this year.
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