PETALING JAYA: Advancecon Holdings Bhd has secured a 34-month contract valued at RM83.8 million to carry out earthworks and civil engineering works for Setia Alamsari (South) in Bangi, Selangor, via its subsidiary, Advancecon Infra Sdn Bhd.
“Supporting yet another of SP Setia’s township projects over the next few years ensures continued productivity and resource optimisation both in terms of machineries and manpower that will eventually lead to higher earnings in the future,” Advancecon group CEO Datuk Phum Ang Kia (pix) said in a statement yesterday.
He said the group’s earthworks and civil engineering works for Setia Alamsari in Bangi will bring its outstanding order book value to over RM790 million, with revenue visibility for at least 24 months.
Under the contract, Advancecon will undertake the construction and completion of site clearing, earthworks, retaining walls and associated infrastructure works with an estimated duration of 34 months from Aug 1, 2019.
The contract is set to contribute positively to the group in the financial years ending Dec 31, 2019 till 2022.