KUALA LUMPUR: Earthworks and civil engineering services specialist, Advancecon Holdings Bhd is going full-speed ahead for ongoing projects, which began operating at 100 per cent workforce capacity as of October 2021.

       In a statement today, Advancecon said its current order book of RM737.8 million comprises works for projects such as the East Coast Rail Link (ECRL), West Coast Expressway (WCE), as well as road and commercial projects in Sarawak.

       This also includes the RM17.0 million ECRL project for construction and completion of ground treatment works of Section 4 that was secured in October 2021, it said.

       Group chief executive officer Datuk Phum Ang Kia said the group is going full-speed ahead to make significant progress in its current order book for the next two years, especially for key infrastructure projects in Peninsular Malaysia and Sarawak.

       "Our emerging footprint especially in performing earthworks and civil engineering services for the construction of new roads and supporting key road infrastructure such as Pan Borneo Highway in Sarawak places us favourably in supporting the upcoming infrastructure developments in East Malaysia.

       "Apart from these jobs in hand, our long-term prospects will also be enhanced by financial contributions from our recent acquisition of a 51 per cent stake in quarry operator Spring Energy Resources Bhd, as well as contributions from the green energy segment through the Large-Scale Solar 4 project and Net Energy Metering contracts,” he said.

       Phum said despite the operational constraints in construction sites during the Full Movement Control Order (FMCO), the group remained profitable in the third quarter ended Sept 30, 2021 (Q3 2021), with RM1.8 million net profit on RM69.6 million revenues.

       For the nine-month period (9M21), its revenue grew 9.9 per cent to RM194.8 million from RM177.3 million previously, on increased billings from ongoing construction projects and support services, he added. - Bernama