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Gabungan AQRS bags two pilings contract worth 84m

JAN 26, 2021, The Edge Markets
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KUALA LUMPUR (Jan 26): Gabungan AQRS Bhd has bagged two contracts for the provision of piling and infrastructure work worth a combined RM83.58 million.

In a filing today, the group said its unit Gabungan Strategik Sdn Bhd was awarded a RM45.7 million job in a commercial building project by Teringin Sentral Sdn Bhd to be executed over 30 months.

In a separate filing, the group said Gabungan Strategik has also accepted a RM37.88 million contract from Solitaire Suites Sdn Bhd involving an office building project which will commence on May 1 and is expected to be completed by Oct 31, 2023.

Gabungan AQRS' outstanding construction order book stood at RM1.3 billion as of Sept 30, 2020, and the two new contract wins are expected to contribute positively to the group's future earnings, the group said.

Shares of Gabungan AQRS ended 1.5 sen or 2.68% higher at 57.5 sen, for a market capitalisation of RM284.39 million.