KUALA LUMPUR (Dec 12): Timber products maker Anzo Holdings Bhd’s construction unit has been awarded a RM28.91 million sub-contract for the construction of a 14-storey new office building in Jalan Hospital Bandar, Ipoh, Perak.

The job was awarded by QuicBuild System Sdn Bhd, a private limited company incorporated in Malaysia that is principally involved in building construction and development.

In a filing with the stock exchange, Anzo said its wholly-owned unit Anzo Construction Sdn Bhd (ACSB) has today accepted the letter of award to be appointed as sub-contractor for supply materials, labour, tools equipment, workmanship, and machineries for the execution of the said building and infrastructure works.

The contract duration is for 19 months, to be completed on June 14, 2019.

Anzo said the group intends to fund the contract via internal funds and/or external borrowings.

Shares in Anzo closed half a sen or 6.25% up at 8.5 sen today, with 6.08 million shares exchanged, giving it a market capitalisation of RM74.87 million. Year to date, the counter has lost some 58%.