Nestcon’s unit bags RM165.08m contract in Sarawak

Tuesday, 20 Sep 2022 6:40 PM MYT

KUALA LUMPUR, Sept 20 — Nestcon Bhd’s (Nestcon) wholly-owned subsidiary, Nestcon Infra Sdn Bhd, has been appointed as the contractor for the site clearance, earthwork and ancillary works on CBS 2, Block 1, Sungai Bakau, Balingian Coalfield, Mukah, Sarawak.

The contract, awarded by Bara Mining and Construction Sdn Bhd, was valued at RM165.08 million, the group said in a filing with Bursa Malaysia today.

Nestcon said the project would run for an initial term of 24 months, effective today until September 19, 2024, with an option to extend for an additional 24 months.

The project is expected to contribute positively to its net assets per share, earnings per share and gearing for the financial year ending December 31, 2022, and throughout the duration of the project. — Bernama