KUALA LUMPUR: Silver Ridge Holdings Bhd has been awarded a contract valued at RM168.8 million to build the Melaka International Cruise Terminal.
The project, to be undertaken by its 51 per cent subsidiary Total SR Web 3.0 Sdn Bhd, includes piling, superstructure works, and mechanical and engineering services.
Expected to commence on May 24 and be completed by August 23, 2025, the project falls within the company's usual business operations, as stated in its filing with the stock exchange.
"Bearing any unforeseen circumstances, the company is of the opinion that the project will contribute positively to the earnings per share and the future earnings of SRHB Group for the financial year ending June 30, 2025," it said.
The board of directors of Silver Ridge has affirmed that the project is beneficial for the company.
At 5pm, Silver Ridge's stock rose by 1.5 sen to 36 sen, giving it a market capitalisation of RM80 million.