PETALING JAYA: Township developer Ibraco Bhd, via wholly owned construction unit Ibraco Construction Sdn Bhd has secured a contract from the Sarawak Public Works Department for the construction and completion of a Sarawak trunk road package worth RM529.83 million.
The project involves the construction and completion of the New Batang Samarahan Bridge and a 9km four-lane dual carriageway from Batang Samarahan to Batang Sadong.
The 42-month contract – which begins on Aug 8 – is expected to contribute positively to the earnings and net assets of Ibraco.
Group managing director Datuk Chew Chiaw Han said the contract will bolster its outstanding construction order book position
He added that it serves as a testament of the group’s position as an integral player in Sarawak’s construction industry and continual commitment to its shareholders in growing its earnings base.
“Furthermore, this letter of acceptance shall further cement our position in the industry and is expected to contribute positively to Ibraco’s earnings profile, thus providing the company with healthy earnings visibility moving forward,” he said in a statement.
