Uni Wall bags RM21.25m subcontract from Crest Builder

Uni Wall bags RM21.25m subcontract from Crest Builder
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KUALA LUMPUR (March 4): Newly-listed Uni Wall APS Holdings Bhd has bagged a RM21.25 million subcontract from Crest Builder Sdn Bhd (CBSB) to supply and install aluminium, glazing and second skin external façade for a six-storey office building.

The office building, with a rooftop carpark, will be developed at the site of a two-storey factory in Section 19, Petaling Jaya which will be demolished, Uni Wall said in a stock exchange filing today.

CBSB, a unit of listed company Crest Builder Holdings Bhd, is the main contractor for the project, which is being developed by Toyoma Aluminium Foil Packaging Sdn Bhd, Uni Wall said.

The contract timeline is from Feb 22, 2019 to March 21, 2020.

"Barring any unforeseen circumstances, the contract is expected to contribute positively towards the future earnings of Uni Wall for the duration of the contract, and will not have any effect on the share capital and substantial shareholders' shareholdings of the group," the group said.

Uni Wall, which was listed on Bursa Malaysia's LEAP Market on Jan 16, said it intends to fund the contract via internally generated funds and external borrowings.

Shares in Uni Wall rose 2 sen or 7.1% to close at 30 sen today, giving the group a market value of RM109.71 million. The counter has gained 4 sen or 16.7% since its listing.