Nestcon’s wholly-owned subsidiary, Nestcon Builders accepted the letter of award awarded by Nescaya Etika Sdn. Bhd. in respect of the main building and infrastructural works for the construction and completion of phase 2, 1 block of 40-storey condominium (637 units) comprising of the main lobby, amenities, and car park to be erected in Kuala Lumpur.
The contract sum for the Contract Works is RM190 million with the overall completion for the contract works within Twenty-Eight months inclusive of the mobilisation, all festivals, and public holidays the date of site possession starts 1 June 2023 and is expected to be completed on 30 September 2025. Nestcon Builders is to carry out the Contract Works in accordance with the other supplementary terms and conditions set out in the LOA.
The acceptance of the LOA by Nestcon Builders to undertake the contract works is expected to contribute positively to the net assets per share, earnings per share, and gearing of the company throughout the duration of the Contract Works
