WCT gets 1MDB construction job worth RM169m

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KUALA LUMPUR (April 16): WCT Bhd announced that it has been awarded a construction job by 1MDB Real Estate Sdn Bhd that is worth RM169.26 million.

The contract covers Zone 3 of the Kuala Lumpur International Financial District (Tun Razak Exchange) in Jalan Tun Razak /Jalan Davis, Kuala Lumpur. The exact contract sum is RM169,261,624 and the contract duration is 26 months, WCT said, adding the letter of award was dated April 12, 2013. The scope of work comprises site clearance, earthworks & rock excavation and other associated works. The company said contract is expected to contribute positively to the group’s earnings and net assets for the financial years from 2013 to 2015. “The award is not subject to the approval of shareholders of the company or any governmental or statutory authorities,” WCT said.