KUALA LUMPUR, 30 JUNE: Nestcon Bhd, a newly-listed building and construction services firm, has won an RM230 million contract to construct serviced apartments in Sungai Buloh, Selangor. In a bourse statement today, the group disclosed that it had won a contract from Mightyprop Sdn Bhd through its wholly-owned Nestcon Builders Sdn Bhd.
The contract entails earthworks, foundations, substructure, main building works, and infrastructure for the construction of a 46-story serviced apartment block in Damansara Perdana, which will include 593 units, a four-story podium with relevant facilities, 27 retail units, and a five-story basement car park.
Construction on the project will begin on July 1 and is projected to take 40 months to complete.
Nestcon, which debuted on the ACE Market yesterday and was the second most actively traded stock of the day, ended the day at 32 sen, four sen higher than its initial public offering price of 28 sen. Today’s closing price was unchanged, valuing the company at RM206.02 million. Continue reading
