KUALA LUMPUR: Advancecon Holdings Bhd’s wholly owned subsidiary Advancecon Infra Sdn Bhd (AISB) has secured a contract worth RM42.54mil from Sime Darby Property (Bukit Raja) Sdn Bhd.

       Advancecon, in a filing with the stock exchange, said AISB had accepted the letter of acceptance for the appointment of AISB as the contractor for the proposed construction and completion of earthworks and other related works for the development of Phase 2 (R6, R8, R9 and C5) at Bandar Bukit Raja 2, Klang, Selangor.

       The overall contract period shall be commencing from March 28, 2022, until Aug 27, 2024.

       Advancecon said the contract is expected to contribute positively towards the future earnings of the group for the duration of the contract.

       The group intends to fund the contract via internally generated funds and/ or external borrowings.

       In a separate statement, group chief executive officer Datuk Phum Ang Kia said: “We have built a strong track record with Sime Darby Property Bhd for more than six years. This new win not only expands our current order book to RM691.4mil but also demonstrates the trust and confidence Sime Darby Property has in Advancecon.”

       “With our existing machinery already positioned at Phases 1 and 2 of the Bandar Bukit Raja 2 development, this will enable us to promptly utilise our existing resources at the site and expedite works for the expanded works area.”

       “Advancecon is still able to bag a total of RM93.6mil new wins to date, after considering higher materials cost and the ongoing uncertainties.”