KUALA LUMPUR (Jan 10): Nestcon Bhd’s unit secured a RM200 million contract to build a 47-storey mixed commercial development comprising 320 serviced apartment and 354 strata office with facilities at Jalan Liew Weng Chee here.

Nestcon said the 41-month contract was awarded by Armada Istimewa Sdn Bhd for undertaking the construction and completion of earthworks, piling and pile caps, retaining wall, substructure, main building works and infrastructure works for the project.

The job is expected to be completed on or before June 16, 2026, said the group in a stock exchange disclosure on Tuesday (Jan 10).

The defect liability period of the contract works will be 27 months from the date of the certificate of practical completion.

The group said this contract is expected to contribute positively to its earnings throughout the duration of the job.

Shares of Nestcon closed half sen or 1.1% higher at 47 sen on Tuesday, giving it a market capitalisation of RM314.46 million.

Source: EdgeProp, 11 January 2023

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