Earthworks and civil engineering services specialist Advancecon Holdings Bhd, the Group, is going full-speed ahead for ongoing projects, which have begun operating at 100% workforce capacity as of October 2021.
Advancecon’s current order book of RM737.8 million comprises earthworks and civil engineering service works for projects such as the ECRL, WCE, as well as road and commercial projects in Sarawak. This also includes the RM17.0 million ECRL project for construction and completion of ground treatment works of Section 4 that was secured in October 2021.
“The full vaccination rate of our workforce together with our strong project teams have enabled us to quickly expedite works and helped us ride the recovery of the construction sector following the easing of movement restrictions and relatively stable supply chain under the National Recovery Plan.
“We are going full-speed ahead to make significant progress in our current order book for the next two years, especially for key infrastructure projects in Peninsular Malaysia and Sarawak. In fact, our emerging footprint especially in performing earthworks and civil engineering services for the construction of new roads and supporting key road infrastructure such as Pan Borneo Highway in Sarawak places us favourably in supporting the upcoming infrastructure developments in East Malaysia.
“Apart from these jobs in hand, our long-term prospects will also be enhanced by financial contributions from our recent acquisition of 51% stake in quarry operator Spring Energy Resources Berhad, as well as contributions from the green energy segment through the Large Scale Solar 4 project and Net Energy Metering contracts,” Dato’ Phum Ang Kia, Group CEO says.
The Government had allocated approximately RM9.8 billion in Budget 2022 for development expenditure in East Malaysia, including the construction and improvement of water and electricity supplies, roads, and the funding of infrastructure projects such as Pan Borneo Highway and Central Spine Road.
