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Property News

Ecoscience bags RM38 mil job to construct building, electrical substation in Selangor

KUALA LUMPUR (Sept 26): Ecoscience International Bhd has secured a RM38.02 million contract for the construction of a building and substation in Kerling, Selangor.
According to a bourse filing on Tuesday, the company’s wholly-owned unit Ecoscience Manufacturing & Engineering Sdn Bhd has accepted the letter of award from Thens Architect, which issued the contract on behalf of non-governmental organisation Maitreya Moral Society Malaysia.
Ecoscience said the construction comprises a six-storey building with a two-storey basement, an electrical substation and others.
The company, which specialises in the construction of palm oil refineries, said the job will span three years.
“Barring any unforeseen circumstances, the [contract] is expected to contribute positively towards the earnings and net assets of the group during the duration of the project assuming no material delay in the timing,” it added.
Shares in Ecoscience last traded at 42 sen on Monday (Sept 25), valuing the company at RM142.8 million. 
The company debuted on the ACE Market back in July this year. Against its IPO price of 30 sen, the counter is up 40%.
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Source: EdgeProp.my

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