KUALA LUMPUR (July 14): Fibromat (M) Bhd (KL:FIBRO) has secured a RM140 million subcontract to undertake the construction of the Limpaku Pinang access road in Sarawak's Limbang Division.

The subcontract was awarded by Hexatrend Sdn Bhd with the work scheduled to be completed in June 2029, the ACE Market-listed geotechnical engineering group said in a bourse filing on Tuesday.

The scope of work includes the construction of a new single-carriageway road, a service road and bridges with solar street lighting.  It also includes geotechnical works, installation of road furniture, drainage and utility diversion works, and environmental protection works.

"This award reflects the confidence our clients continue to place in Fibromat's engineering expertise, execution capabilities and commitment to delivering quality infrastructure solutions," said Fibromat managing director and CEO Danny Ng Kian Boon in a statement.

"This project further strengthens our order book and reinforces our strategic expansion into East Malaysia, where infrastructure investment continues to create attractive long-term opportunities," he added.

With this project, the group's outstanding order book has increased to RM495 million, providing healthy earnings visibility over the next three years, the group said.

Fibromat's share price closed unchanged at 77 sen on Tuesday, with a market capitalisation of RM191.2 million. Year-to-date, the counter is up 14.07%.