SLGC secures RM50.24 million contract for Selangor factories
The contract will run for 30 months, with the commencement date yet to be determined.
SLGC Bhd has secured work worth RM50.24 million to build detached industrial factories and related infrastructure in Telok Panglima Garang, Selangor, according to its filing with Bursa Malaysia.
ALH Construction Sdn Bhd awarded the engineering, procurement and construction contract to SLG Construction Sdn Bhd, a wholly-owned subsidiary of SLGC. The job has a 30-month duration, but its commencement date remains undecided.
The award came three weeks after SLGC made its debut on the ACE Market. SLGC said it expects the project to make a positive contribution to earnings and net assets during the contract.
SLGC is based in Johor and focuses on designing and constructing residential and non-residential buildings. It serves building owners and property developers across Malaysia.
At the Oct 29 close, SLGC shares stood at 21.5 sen after declining 1.5 sen or 6.52%. Its market value was RM120.4 million, while the closing share price was over 23% below the IPO price of 28 sen.
