KUCHING: Pansar Bhd’s construction arm has won a water treatment plant project in Sibu for about RM269.1 million.
Wholly-owned subsidiary Perbena Emas Sdn Bhd has received a letter of award from Sibu Water Board for the upgrading of the water treatment plant in Salim. The contract was secured via open tender.
“The scope of works (for the project) includes civil and structural works and mechanical and electrical works for the construction, completion and commissioning, and all the required works for the upgrading of the Salim water treatment plant from 150 MLD (million litres per day) to 300 MLD.
“The contract period is 30 months and the project is scheduled to commence in May 2024.
“The project is expected to contribute positively to the earnings and net assets of the group as the project progresses during the contract period,” Pansar said in a filing with Bursa Malaysia.
The latest contract is the second major contracts secured by Perbena Emas this year. On February 14, the company was awarded a RM129.9 million contract for the construction of the proposed Sarawak Infectious Disease Centre (Package 1) at Sg Jemang, Samarahan Division from Borneo Development Corporation (Sarawak) Sdn Bhd. The contract period is for 30 months.
Meanwhile, Pansar has issued more than 22.62 million new ordinary shares priced at 53sen each following the conversion of redeemable convertible preference shares (RCPS) in the past two weeks.
Pansar share price rose to 60.5sen shortly after market opened from 57sen on Thursday on news of the group securing the Salim water treatment plant’s upgrading project.
In an unrelated development, Reservoir Link Energy Bhd’s (RLEB) 51 per cent-owned subsidiary Founder Energy Bhd (FESB) has been awarded sub-contract works for a 50MWac solar farm project in Kulim, Kedah.
The sub-contract from JS Solar Sdn Bhd (JSSB) is worth about RM22 million. The project is expected to take 378 days for scheduled completion on March 31, 2025.
JSSB is principally involved in providing top-notch engineering, procurement, construction and commissioning (EPCC) services for solar systems throughout Malaysia.
The scope of works of the sub-contract shall include but not limited to supply labour, hand tools, materials and the necessary machineries and equipment for the execution and completion of the project.
“In the event FESB fails to complete the works by the completion date or within the extended time given by JSSB, FESB agreed to pay the sum of RM20,000 per day as liquidated damages up to the maximum of 10 per cent of the sub-contract sum.
“Upon the practical completion of the works, the date of completion to be certified by JSSB, the defect liability period shall be 24 months from the completion date,” RLEB told Bursa Malaysia.
