Vestland Unit Secures RM65 Mln Works Contract

KUALA LUMPUR, June 19 (Bernama) -- Construction company Vestland Bhd’s wholly owned subsidiary, Vestland Infra Sdn Bhd (VISB) has accepted a letter of award from Scanwolf Trading & Construction Sdn Bhd (STCSB) for a works contract worth RM65 million.

In a filing with Bursa Malaysia today, Vestland said the contract involves piling and substructure works for one block of 74-storey service apartment, including car parks, basement, shop lots, and related facilities at Jalan Pavilion here.

“The completion of the contract works shall be on June 18, 2028, with the commencement date today,” it said.

The company also said the contract will have no effect on the issued share capital and substantial shareholders’ shareholdings of Vestland as there is no issuance of new ordinary shares in the company.

“The contract is expected to contribute positively to the earnings and net assets of Vestland and its subsidiaries for the duration of the contract assuming no material delay in the timing,” it added.

-- BERNAMA