EPICON has informed that its wholly owned subsidiary Transnational Builder Sdn. Bhd. had received a letter of award from Perak State government linked company, Syarikat Majuperak Bhd, for a housing project worth RM89 million.
The project involves the construction of 601 units of single storey terrace houses and 4 units of electrical substations under a Rumah Perakku development in Sungai Terap, Daerah Kinta, Negeri Perak.
The contract period is thirty months which is expected to commence on 27 March 2024 and completed on 26 September 2026.
Epicon said it does not expect any material risk arising from the Letter of Award other than the normal operational risks associated with the Letter of Award and the business risk within the industry which the Company would take appropriate measures to minimise it.
The company expects the contract to contribute positively to the earnings of the Company for the financial years ending 31 December 2024 and onwards.
Upon the awarding of this new contract, Epicon’s total outstanding order book has risen to RM929 million from the previously stated RM840 million in the announcement made on 18 March 2024
