Vestland secures RM107mil slope mitigation contract in Terengganu
KUALA LUMPUR: Vestland Bhd announced that its indirect wholly-owned subsidiary Vestland Infra Sdn Bhd had accepted a contract valued at RM107.61 million from Ambang Besar Sdn Bhd.
Vestland Bhd's indirect wholly-owned subsidiary, Vestland Infra Sdn Bhd, has secured a RM107.61 million contract in Terengganu for slope mitigation and related works at a reservoir catchment area. The construction is set to begin on October 2, 2023, with completion projected for May 11, 2029, spanning around 32 months. Vestland's joint managing director, Datuk Seri Justin Soo Sze Ching, stated that this project strengthens the group's infrastructure presence and underscores its expanding civil engineering portfolio.
He emphasized the company's pride in contributing its technical expertise to a project that ensures public safety and environmental protection. Looking ahead, Vestland aims to pursue infrastructure opportunities that align with its core capabilities, contributing to the group's sustainable growth. As of now, the company has secured eight new contracts, with a combined value of RM1.6 billion, raising its total outstanding order book to RM2.0 billion.
If there are no material delays, the project is expected to positively impact Vestland's earnings and net assets throughout its duration.
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