Dancomech bags RM36.5m subcontract at Singapore’s Jurong Port

Dancomech bags RM36.5m subcontract at Singapore’s Jurong Port
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KUALA LUMPUR (Sept 7): Dancomech Holdings Bhd said its 55%-owned subsidiary has bagged a sub-contract worth S$12.01 million (RM36.5 million) at Jurung Port in Singapore.

“The sub-contract forms part of the main contract for the construction, completion and maintenance of the proposed Ready Mixed Concrete Ecosystem Project at Jurong Port,” the group said in a filing with Bursa Malaysia.

The subsidiary, Arah Edar (M) Sdn Bhd, was awarded the sub-contract by the main contractor SH Design & Build Pte Ltd.

The work, which includes the design and supply of material handling equipment, must be completed by January 2022, Dancomech said.

The group said the project is expected to contribute positively to its earnings and net assets for the financial year ending Dec 31, 2021 and onwards, during the duration of the sub-contract.

Dancomech is primarily involved in the trading and distribution of process control equipment and measurement instruments. Its focus area is mainly in the palm oil and oleochemicals, oil and gas and petrochemical, and water treatment and sewerage industries.

Shares of Dancomech closed half a sen or 0.83% higher at 61 sen today, valuing the group at RM185.45 million.

S Kanagaraju