KUALA LUMPUR (April 23): Wawasan Dengkil Holdings Bhd (KL:DENGKIL) announced that it has secured a RM22.7 million contract to build residential units in Sepang, Selangor.

In a bourse filing on Thursday, the group said the letter of acceptance (LOA) was given to its wholly owned subsidiary Wawasan Dengkil Sdn Bhd (WDSB) from the Selangor State Development Corp (PKNS).

As per the contract, the construction firm’s unit will be responsible for the construction and completion of 56 single-storey residential units.

Works are scheduled to commence on June 8, and completion is expected on Oct 24, 2027.

Wawasan Dengkil is principally involved in construction services, including earthworks and civil engineering, trading of construction materials, as well as the provision of machinery and commercial vehicles for hire.

“The acceptance of the LOA by WDSB to undertake the contract works is expected to contribute positively to the net assets per share, earnings per share and gearing of the company throughout the duration of the contract works,” said Wawasan Dengkil in the filing.

At the time of writing on Thursday, shares of Wawasan Dengkil were unchanged at 14.5 sen. At its last price, it had a market capitalisation of RM78.3 million. Over the past year, the stock has fallen by 35.6%.