PETALING JAYA: Annum EPCC Sdn Bhd, an indirect, wholly owned subsidiary of Annum Bhd
, has secured a RM53.2mil contract from Kacon Construction Sdn Bhd.
The project involves Annum EPCC supplying material, labour and machineries for the piling, structure and architecture for main building works of a 24-storey office building located at Jalan Tun HS Lee in Kuala Lumpur.
Work will begin on July 15 and will run for 24 months, and in a statement to Bursa Malaysia, Annum said the contract sum is subject to price fluctuations related to factors such as the cost of material, labour, plant and equipment, duties, change of legislation, as well as exchange of rate of currencies,
The project is expected to contribute positively towards the earnings and net assets of the group for its duration, and will have no effect on the issued share capital and substantial shareholdings of Annum.
The job will be funded through internal generated funds and/ or bank borrowings.
