PETALING JAYA: A unit of Nestcon Bhd has bagged a RM188.5mil construction contract from Konsortium Exsim Development Sdn Bhd (KED).

       In a filing with Bursa Malaysia, Nestcon said its wholly-owned subsidiary, Nestcon Builders Sdn Bhd, received a letter of award (LoA) from KED to undertake the design, construction, completion, commission, maintenance and guarantee for foundation works, sub-structure works, main building works and infrastructure works for the construction of a 39-storey building in Jalan Klang Lama, Kuala Lumpur.

       The development will comprise of 608 units apartment suites and three units of retail shops.

       The overall contract period for the project is within 36 months from the date of commencement and the project is expected to be completed for handover on or before Jan 18, 2025.

       The acceptance of the LoA by Nestcon Builders is expected to contribute positively to the net assets per share, earnings per share and gearing of the company for the financial year ending Dec 31, 2022 and throughout the duration of the project.