Salcon bags RM71m contract to build storm water pumping station in Sri Lanka

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KUALA LUMPUR (July 16): Salcon Bhd secured an RM71.27 million contract to build a storm water pumping station in Sri Lanka over a 21-month period.

In a filing with Bursa Malaysia today, Salcon said its wholly-owned subsidiary Salcon Engineering Bhd had received the letter of acceptance from Ministry of Megapolis & Western Development, Sri Lanka for the design and building of Ambatale Storm Water Pumping Station.

Salcon said the date of commencement is upon the fulfilment of conditions precedent, and is expected to contribute positively to its earnings in financial year ending Dec 31, 2018 (FY18), FY19 and FY20.

Salcon’s share price fell one sen to 31 sen today, giving it a market capitalisation of RM260.39 million.