KUALA LUMPUR (Aug 14): Hock Seng Lee Bhd (HSL) has bagged a RM101.19 million contract from Petroliam Nasional Bhd (Petronas) to build a Mara Junior Science College (MRSM) in Bintulu, Sarawak, via an open tender exercise.

In a statement today, HSL managing director Datuk Paul Yu Chee Hoe said the contract win brings the group's order book to a record RM3.1 billion, with some RM2.5 billion outstanding.

“While our projects in hand stretch for several years, we are continuing to vie for new contracts such as this one, where we can leverage on our earthworks expertise and heavy machinery portfolio,” he added.

In a separate filing with Bursa Malaysia, HSL said it has received the letter of acceptance from Petronas for the proposed project. External works account for some 30% of the contract sum.

"The project is a part of Petronas' corporate social investment and KLCC Projeks Sdn Bhd is the project manager," it added. The college will be the fourth for Sarawak, with existing MRSMs already built in Kuching, Mukah and Betong.

The 40-acre site will cater to up to 450 students and involve academic blocks, science laboratories, student hostels, a multipurpose hall, sports facilities, living quarters for staff and a surau.

The contract period is 36 months, with construction work expected to commence in September.

"The contract is expected to contribute positively to the group's earnings and net assets as the project progresses during the contract period," said HSL.

HSL shares closed the morning session up one sen or 0.74% at RM1.36, with 5,200 shares done, bringing a market capitalisation of RM747.34 million.