Anzo's unit accepts RM29m sub-contract

PETALING JAYA: Anzo Holdings Bhd's wholly-owned subsidiary Anzo Construction Sdn Bhd (ACSB) has accepted a letter of award from QuicBuild System Sdn Bhd (QBSB) for the appointment of ACSB as sub-contractor for a RM28.92 million job for a 14-storey new office building at Jalan Hospital Ipoh, Perak.
The job relates to the supply materials, labour, tools equipment, workmanship and machineries for the execution of building and infrastructure works.The scopes of works of ACSB includes preliminaries and general conditions; building works; infrastructure works; and prime cost and provisional sums.
In a stock exchange filing, Anzo said the date of site possession is Dec 15, 2017. The contract has a duration of 19 months and the completion date is June 14, 2019.
"The liquidated ascertained damages amount for non-completion of the works limit to maximum of RM7,397.70 per day for each delay inclusive of festive holidays," it said.
ACSB is principally involved in the business of construction and its related maintenance services. QBSB's principal activities are in building construction and development.
The group intends to fund the contract via internally generated funds and/ or external borrowing.
Anzo closed up 6.25% at 8.5 sen with 6.08 million shares traded.