VARIA Bhd’s subsidiary, Pembinaan Teguh Maju Sdn Bhd, has been awarded a RM61.45 million contract for the construction and completion of a significant project at Universiti Pendidikan Sultan Idris (UPSI) in Perak.

In a filing with Bursa Malaysia, Varia Bhd announced that Pembinaan Teguh Maju accepted the letter of award from Kemuncak Pesaka Sdn Bhd on August 14, 2024.

The project involves the design, construction, and commissioning of student hostels, an international and mobility centre, a language skills centre, support spaces, external infrastructure, and related works at UPSI.

The contract spans 31 months, starting from August 19, 2024, and is scheduled for completion by March 31, 2027.

Varia Bhd anticipates that this contract will positively impact its earnings throughout its duration.

“This new contract in Tanjong Malim is a testament to PTM’s capabilities and Varia’s expanding footprint in the construction sector, specifically in educational infrastructure. It not only enhances our order book but also strengthens our commitment to contributing to educational development in Malaysia,” Varia MD, Datuk Benson Lau, said in a separate release.

At the close of trading, Varia Bhd’s shares rose 13.37% to RM1.06, with a market capitalization of RM450.50 million. — TMR