Advancecon's indirect subsidiary secures contract for mining works

KUALA LUMPUR: Advancecon Holdings Bhd's indirect 51%-owned subsidiary Spring Energy Sdn Bhd has entered into a mining services agreement with Imerys Minerals Malaysia Sdn Bhd to carry out mining works at Gunung Terundum in the Simpang Pulai/Keramat Pulai area.

In a filing with Bursa Malaysia, the group said the agreement will be for a period of 42 months from July 1, 2024, to Dec 21, 2027.

"Barring any unforeseen circumstances, the Agreement is expected to contribute positively to the company’s consolidated earnings per share and net assets per share in the future," it said.