Nestcon has accepted a letter of award from Sino Natural Resources Malaysia Sdn. Bhd. as a contractor to provide site clearance, earthwork, and ancillary works for a project in Sarawak. The provisional contract sum for the project is RM129.6 million.
Sino Natural Resources is principally involved in the construction of utility projects, both parties will enter into a formal contract along with the necessary supporting documents within twenty-one days from the acknowledgment of the LOA.
The acceptance of the LOA by Nestcon Infra to undertake the Project is expected to contribute positively to the net assets per share, earnings per share and gearing of the Company for the financial year ending 31 December 2022 and throughout the duration of the Project.