PETALING JAYA: Nestcon Bhd’s subsidiary, Nestcon Builders Sdn Bhd has secured a RM108 million construction contract for a property development project from Exsim Avenue Sdn Bhd.
The contract entails earthworks, piling works, main building works, and infrastructure works for a 37-storey mixed commercial development, comprising retail shops, a strata office, service apartments, and other facilities.
In a filing with Bursa Malaysia, Nestcon said the work is expected to be completed by April 14, 2027, or within such extended date according to the contract.
The contract is expected to contribute positively to the net assets per share, earnings per share, and gearing of the company.
At the close of trading, Nestcon’s share price was unchanged at 37 sen, giving it a market capitalisation of RM249.13 million.