PETALING JAYA: Vestland Bhd
has received a letter of award from Euro Saga Sdn Bhd (ESSB) worth RM195.35mil to undertake the site clearance and demolition works, earthworks, drainage, pavement and road furniture works for the Kota Bharu - Kuala Krai Expressway in Kelantan.
In a filing with Bursa Malaysia, Vestland said completion of the construction works under the contract shall be on July 18, 2026, with the commencement date on July 19, 2024.
“The contract will have no effect on the issued share capital and substantial shareholders’ shareholdings of the company as there is no issuance of new ordinary shares in the company.
“The contract is expected to contribute positively towards the earnings and net assets of the company and its subsidiary for the duration of the contract, assuming no material delay in the timing,” said Vestland.
ESSB is principally involved in civil and building construction.
“The Board, after having considered all aspects of the contract, is of the opinion that the contract is in the best interest of Vestland group.”
