PETALING JAYA: Advancecon Holdings Bhd has secured two East Coast Rail Link (ECRL) contracts totalling RM80.8 million, from China Communications Construction (ECRL) Sdn Bhd.
The first contract is worth RM53.7 million starting from Sept 7, 2020 to Jan 6, 2023. The second contract is valued at RM27.1 million, commencing Sept 7, 2020 to Sept 6, 2022.
Advancecon group CEO Datuk Phum Ang Kia said these contract wins are a timely boost for the group’s existing earthworks and civil engineering works orderbook, and signifies the confidence its client has in the group to be part of the country’s biggest infrastructure development.
“These contracts prepare the group to be well-positioned and more competitive in future ECRL tenders due to the presence of mobilised resources. The government’s ongoing plan to implement the ECRL in the next few years is certainly positive for the group’s future prospects within this infrastructure megaproject,” Phum said in a statement.
With the addition of these two contracts, Advancecon’s orderbook expanded to RM771.1 million, with earnings visibility for at a minimum of 28 months.
source https://www.thesundaily.my/business/advancecon-secures-two-east-coast-rail-link-contracts-worth-a-total-of-rm808m-JM3806694
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