by PRIYA VASU / pic by TMR FILE
ADVANCECON Holdings Bhd’s wholly owned subsidiary Advancecon Infra Sdn Bhd, clinched a contract worth RM60.6 million to undertake subgrade works for Section 4 (Package 3) of the East Coast Rail Link (ECRL) infrastructure megaproject.
In a filing to Bursa Malaysia today,the company noted the contract was awarded by China Communications Construction (ECRL) Sdn Bhd, for a duration of 25.5 months from the commencement in March 2021 up to the projected completion in April 2023.
This represents the Group’s fourth contract within the ECRL, having been awarded its first two contracts within Section 6 of the ECRL in September 2020, amounting to RM53.7 million and RM27.1 million respectively.
A third contract worth RM29.8 million within Section 4 of the ECRL, was subsequently secured in the same month,
bringing Advancecon’s total ECRL contract wins to RM171.2 million.
“Securing yet another ECRL contract speaks volumes of our strong track record and competitiveness in providing efficient earthworks and civil engineering services.
“We are heartened by the continued trust placed in us by our client, and will endeavour to execute all works efficiently,” said Group CEO of Advancecon Holdings Berhad.
“With resources already mobilised in the project, we can seamlessly allocate machinery and manpower among all packages in a timely manner to make progress within the agreed timeframes,” he added.
The group is also optimistic about securing more contracts within the ECRL as well as other major infrastructure projects across the country.
With this latest contract win, Advancecon’s order book expands to RM774.8 million, and would provide earnings visibility for a minimum of 25 months.
The group’s existing order book comprises works for key infrastructure projects including West Coast Expressway, Pan Borneo Highway and new roads in Sarawak under the Upper Rajang Development Agency, as well as earthworks for reputable property developers like SP Setia, Sime Darby and various others.