KUALA LUMPUR: Ibraco Bhd
secured a RM529.83mil contract from the Sarawak Public Works Department with regards to construction works for the Sarawak Second Trunk Road.
In a filing with Bursa Malaysia, the group said the job entails the proposed construction of the new Batang Samarahan Bridge and 9km new four-lane dual carriageway road JKR R5 standard from Batang Samarahan to Batang Sadong (CH8+150), Samarahan division.
The contract is for a period of 42 months from Aug 8, 2023 to Feb 7, 2027.
"The project, which will be funded via internally generated funds and external borrowing, is expected to contribute positively to the earnings and net assets of Ibraco for the duration of the project and will not have any effect on the share capital and substantial shareholders’ shareholdings of Ibraco’s group," it said.
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