KUALA LUMPUR (May 12): Progressive Impact Corp Bhd (PICORP) has won an RM8.46 million contract to construct a sewerage treatment plant in Port of Tanjung Pelepas.

PICORP said its wholly-owned subsidiary Alam Sekitar Malaysia Sdn Bhd (ASMA) signed the eight-month contract today with Pelabuhan Tanjung Pelepas Sdn Bhd (PTP), which is 70%-owned by MMC Corporation Bhd.

Under the contract, ASMA will undertake the construction of module two of the sewerage treatment plant, while upgrading module one of the plant and remedying any defects present.

Noting that ASMA had delivered a similar sewerage treatment plant project, PICORP said today’s contract signifies PTP’s confidence in ASMA’s proven experience and strength in the segment.

“The contract is expected to contribute positively to the earnings per share of PICORP for the financial year ending Dec 31, 2020 until 2021,” the group added.

PICORP shares closed half a sen or 5.26% lower at nine sen, giving the group a market capitalisation of RM59.22 million.