Protasco Berhad’s 70% owned subsidiary, Permint Granite-HCM has entered into a supplementary agreement with the State Government of Terengganu which will see the earlier agreement being extended with an additional sum.
Under the principal agreement, the Government awarded Permint Granite-HCM Sdn Bhd a 5-year contract to maintain minor roads in the state of Terengganu for a total contract sum of RM49.9 million that has expired in April 2022.
While with the new contract, the company will continue to deliver emergency works for minor roads for the facilities and maintenance services, and the contract period is now been extended to another 5 years to 2027.
The contract amount has also been revised from RM49.9 million to RM171.843 million.
The extended contract period for the Works is expected to contribute positively toward Protasco Group’s results for the financial year ending 31 December 2022.