corporate

Varia bags RM410.3m flood prevention job for Sungai Muar, Segamat

KUALA LUMPUR: Construction and property company Varia Bhd has bagged a RM410.3 million sub-contract job for flood mitigation works for Sungai Muar in Segamat.

In a statement today, it said its unit Pembinaan Teguh Maju Sdn Bhd (PTM), secured the contract from Kator Construction Sdn Bhd.

Under the terms of this contract, PTM will act as a sub-contractor, responsible for the upgrading of the Sungai Muar, which includes a range of critical flood mitigation works.

This project will run for 60 months, and started on July 23, 2024, with completion date of July 22, 2029.

After a slew of contract wins from July this year, Varia has built up an order book of RM2.2 billion.

Varia's share price closed at RM1.040, giving it a market capitalisation of RM442.0 million.

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