Leform bags RM10m guardrail contract for WCE project

LEFORM Bhd, via its 60%-owned subsidiary LF Engineering Sdn Bhd, has received a letter of acceptance from Ganda Imbuhan Sdn Bhd, as a subcontractor for the supply and installation of guardrails for a portion of the West Coast Expressway (WCE).

In a statement yesterday, it said that the subcontract is valued at RM10.05 million and is expected to be completed on June 30, 2023.

The project includes Section 6 between the Kapar interchange and the Assam Jawa interchange in Selangor.

The subcontract is also expected to contribute positively to the revenue, earnings and net assets of Leform up to the financial year ending Dec 31, 2023.

Once completed, the expressway will be the third longest highway in Peninsular Malaysia, spanning 233km, after the North-South Expressway at 966km and the East Coast Highway (330km).

Leform MD Law Kok Thye said the subcontract is the first contract secured by the group since becoming a listed entity.

“Given our technical expertise and long track record in the steel industry, we are confident we stand a good chance to clinch more projects in the coming days,” said Law.

“As we move forward, our capabilities to cater for higher production volume certainly bodes well with the optimistic backdrop of the expected rising steel consumption driven by the recovery in manufacturing and construction industries.”

Leform’s share price remained unchanged at 21.5 sen yesterday, with a market capitalisation of RM318 million. — TMR / pic source: leformgroup.com.my