PETALING JAYA: Advancecon Holdings Bhd’s unit has bagged a RM16.97mil contract for subcontract works for the East Coast Rail Link (ECRL) project.

       In its filing with Bursa Malaysia, Advancecon said its wholly-owned subsidiary Advancecon Infra Sdn Bhd (AISB) yesterday accepted the letter of acceptance from China Communications Construction (ECRL) Sdn Bhd for the appointment as the subcontractor for the proposed construction and completion of ground treatment works of Section 4 for the rail project.

       The contract period will commence from Oct 15, 2021, until March 25, 2022.

       Advancecon said the group intends to fund the contract via internally generated funds and external borrowings.

       The company’s shares closed unchanged at 35 sen yesterday.