KUALA LUMPUR: Civil engineering services specialist Advancecon Holdings Bhd's wholly-owned subsidiary, Advancecon Infra Sdn Bhd, has secured a RM44.6 million contract from Sime Darby Property Sdn Bhd.
In a filing with Bursa Malaysia, Advancecon stated that the contract involves the construction of main infrastructure works for Phase 3, Parcels 2 and 3, of the proposed development at Elmina West.
The project, scheduled for completion within 18 months, is expected to conclude by July 1, 2024.
The scope of work includes comprehensive infrastructure development such as roads, drainage systems, water reticulation, sewerage, telecommunications, and other essential facilities to support the long-term growth and sustainability of the Elmina West community.
Advancecon group chief executive officer Datuk Phum Ang Kia said the contract further underscores the strength of its partnership and ability to deliver infrastructure solutions that meet their requirements.
"We value the trust that Sime Darby Property has placed in us as a returning client."This project is another opportunity for us to contribute to the development of Elmina West, a key township in Selangor, by ensuring the timely delivery of high-quality infrastructure works."As a company, we remain dedicated to maintaining the highest standards of quality, safety, and efficiency, which form the foundation of our enduring partnerships," he said.
As of Sept 30, 2024, Advancecon's unbilled order book has grown to RM321.6 million, reinforcing its status as a key player in Malaysia's infrastructure sector.
The company's share price rose by 4.26 per cent, increasing by 1 sen to 24.5 sen, bringing its market capitalisation to RM140.27 million.