KUALA LUMPUR (Aug 28): Fajarbaru Builder Group Bhd has bagged two contracts worth a combined total of RM42.32 million from Knusford Bhd in relation to the Setiawangsa–Pantai Expressway (SPE) project.
The two projects are also known as Duta-Ulu Kelang Expressway (DUKE) Phase-3.
In two separate filings with Bursa Malaysia today, it said its wholly-owned subsidiary Fajarbaru Builder Sdn Bhd (FBSB) has accepted two Letters of Award from Knusford’s wholly-owned unit Knusford Construction Sdn Bhd for the works in relation to the construction and completion of bridge structure works for the Salak Interchange (Kerinchi to Salak) and also Setiawangsa to Melati.
The Salak Interchange project, which is worth RM41.25 million, is to be completed in 14 months. It is expected to contribute positively to the group’s earnings and net assets for the two financial years ending June 30, 2020 (FY20) and FY21.
The other project, with a contract period of 12 weeks, is worth RM1.07 million. This contract is also expected to contribute positively to the group’s earnings and net assets for FY20.
Notably, in July, the company also secured a contract worth RM27 million, which is also linked to the SPE highway.
Shares of Fajarbaru closed unchanged at 35 sen today, valuing the company at RM130.47 million. The counter, over the past 12 months, has fallen 21.35% from 44.5 sen.