Advancecon wins RM41.52 million contract at Johor's IBTEC
The award from JLG Technopark is the company's third contract for the industrial development in Kulai.
Advancecon Holdings Bhd has secured a RM41.52 million job covering earthworks and main infrastructure at Southern Ibrahim Technopolis (IBTEC) in Kulai, Johor, according to its bourse filing on Nov 10.
JLG Technopark Sdn Bhd, a Johor Corporation unit, awarded the contract. It is the third IBTEC job that the earthworks and civil engineering company has received from JLG.
Advancecon secured its first contract in March, worth RM148.4 million, for earthworks and main infrastructure. A second award in September covered earthworks and related tasks and was valued at RM66.9 million.
Managing director Phum Boon Eng said the latest award reflected Advancecon's continuing involvement in IBTEC, a low-carbon innovation hub. The company said it would keep pursuing infrastructure projects suited to its earthworks and civil engineering strengths.
Advancecon shares closed at 18 sen on Nov 10, unchanged, giving the company a market value of RM105 million.
