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KUALA LUMPUR (Jan 27): Advancecon Holdings Bhd (KL:ADVCON) has secured an RM82.09 million contract to undertake earthworks and main drainage works for a development in the Johor-Singapore Special Economic Zone (JS-SEZ).
The 15-month contract for Phase 1 (Package 1) of the Southern Catalyst Innovation District in Sedenak is slated to commence on Feb 4, according to a bourse filing on Tuesday.
It was awarded by Southern Catalyst Sdn Bhd, a wholly owned unit of Minister of Finance Inc.
The Southern Catalyst Innovation District, a 2,940-acre site within the JS-SEZ, is envisioned to catalyse the development of an industrial ecosystem built around key industrial, logistics, agritech, commercial, and residential offerings.
Advancecon group managing director Phum Boon Eng said Johor remains a key growth market for the group, supported by ongoing industrial expansion and infrastructure development.
“Advancecon continues to pursue selectively aligned projects that leverage its core strengths in earthworks and civil engineering, while maintaining a disciplined approach to risk management and capital deployment amid a steady pipeline of infrastructure and industrial development opportunities,” the group said.
Shares in Advancecon ended half a sen or 2.56% higher at 20 sen on Tuesday, valuing the group at RM116.95 million.
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