Gabungan AQRS Bhd has bagged a RM360.98 million subcontract from its 30%-owned associate Kreatif Sinar Gabungan Sdn Bhd to undertake construction works for the proposed development of Pusat Pentadbiran Sultan Ahmad Shah in Kuantan, Pahang.
In a filing with Bursa Malaysia today, Gabungan AQRS said its wholly-owned subsidiary Gabungan Strategik Sdn Bhd has accepted a letter of award (LOA) from Kreatif Sinar Gabungan for the proposed project.
As part of the terms of the LOA, Gabungan Strategik will operate as a turnkey contractor for the proposed project. The works are to be completed within 39 months, from Dec 27, 2016 to March 26, 2020.
"The project is expected to contribute positively to the future earnings, net assets per share and gearing of Gabungan AQRS' group of companies for the financial years ending Dec 31, 2017 to 2020," said Gabungan AQRS.
"The Group profit before tax (“PBT”) of RM13.51 million in the current quarter is higher as compared to the preceding quarter of RM8.25 million. The higher PBT in the current quarter was mainly due to the higher contribution from the work progress of the new projects in the construction segment."
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Posted by damiantreez > 2017-01-04 17:49 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5305813