Nestcon wins RM161 million apartment construction contract in Gombak
The 34-month project brings the combined value of three major construction contracts secured this year to RM478.52 million.
Nestcon Bhd has received a construction award worth RM161 million for a serviced apartment building of 36 storeys in Bandar Baru Ulu Kelang, Gombak, according to its Bursa Malaysia filing.
Developer BU Developments Sdn Bhd appointed Nestcon Builders Sdn Bhd, a wholly owned subsidiary of the group, for the project. Work under the 34-month contract began on Nov 2, 2026, with completion scheduled for Sept 1, 2029.
Nestcon Builders will undertake the main building works under the letter of award. A 30-month defect liability period will run from the date specified in the practical completion certificate for those works.
The award takes Nestcon’s three major construction wins this year to a combined RM478.52 million. The other two came from Exsim-related companies in August: a RM74.52 million apartment project in Kwasa Damansara, Selangor, awarded by Exsim MX4 Sdn Bhd on Aug 3, followed two days later by a RM243 million serviced apartment project in George Town, Penang, from Exsim Waterfront Sdn Bhd.
Nestcon reported RM12.68 million in net profit for the six-month period ended June 30, 2026, more than double the year-earlier figure. Revenue increased 14.5% to RM391.5 million. The group said increased construction activity accounted for the improved performance.
Its shares finished at 44.5 sen, down one sen or 2.2%, giving the group a market value of about RM346.7 million.
