UEM Edgenta bags two contracts worth RM60.75m

PETALING JAYA: UEM Edgenta Bhd's wholly owned subsidiary Opus International (M) Bhd has bagged two contracts worth RM60.75 million from Borneo Highway PDP Sdn Bhd (BHP), via related party transactions.
UEM Edgenta told Bursa Malaysia that Opus had entered into contracts with regards to the Pan Borneo Highway project in Sabah.
Under the first contract, Opus has to study on asphaltic mix options to address limited granite resources and subgrade CBR for pavement design optimisation for a period of four months at a contract sum of RM445,904.65.
The other contract is for the provision of technical support services for a period of four years at a contract sum of RM60.3 million.
UEM Edgenta stressed that the transactions are in the ordinary course of Opus' business and is undertaken on an arm's length basis, based on normal commercial terms which are not more favorable than those generally available to the public.
BHP is a 40% associated company of UEM-MMC Joint Venture Sdn Bhd, which in turn is a 50% joint venture of UEM Group.
UEM Edgenta's share price was down 7 sen or 3.3% to close at RM2.02 on some 26,200 shares done.