KUALA LUMPUR (March 22): Construction and renewable energy firm Nestcon Bhd said on Friday it has bagged a RM79.5 million contract under phase one of the Wawari township development in Johor Bahru. 

The contract involves earthworks and main infrastructure works at the proposed township development located in the Pulai district, Nestcon said in an exchange filing. The contract is expected to begin March 28 and be completed by Nov 27, 2025. 

The contract also has a 24-month defect liability period after the certificate of practical completion has been issued, Nestcon said. 

“The company does not foresee any exceptional risk other than the normal operational risks” and the company will take the “necessary steps to mitigate the risks as and when they occur,” it added. 

Shares in Nestcon settled unchanged at 36 sen on Friday, valuing the company at RM254.95 million.