Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on March 20, 2019

KUALA LUMPUR: Salcon Bhd said its engineering unit has secured a water treatment plant construction contract in Sabah worth RM124.7 million.

In an exchange filing yesterday, Salcon said the contract — awarded to its wholly-owned subsidiary Salcon Engineering Bhd by Rintis Dinamik Sdn Bhd — will involve works for the capacity expansion of the Telibong II water treatment plant in Tamparuli, Sabah.

The expansion, which will be carried out on its main pipeline and storage tank, will increase the plant’s capacity from 80 million to 160 million litres a day.

Salcon said the contract will commence on March 28 for a scheduled completion on Feb 18, 2021. The contract is expected to contribute positively towards the group’s earnings for the financial year ending Dec 31, 2019 to Dec 31, 2021, it added.

Salcon shares closed 1.5 sen or 5.26% lower yesterday at 27 sen, valuing the water and wastewater engineering company at RM221.02 million.

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