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KUALA LUMPUR (September 13): Vertice Bhd is partnering two local construction firms to pursue jobs under two infrastructure projects in Sarawak.
The projects comprise the remainder works to complete the coastal road network and the second trunk road in the state.
In a filing with Bursa Malaysia yesterday, Vertice said it inked a memorandum of understanding (MoU) with Pembinaan RU Sdn Bhd and Image Façade Construction Sdn Bhd to jointly submit pre-qualification tender for the projects.
If the bid is successful, the three parties will form a joint-venture (JV) company to proceed with the projects in Sarawak, it said.
Under the JV, Pembinaan RU is tasked to secure the contract and provide a management team to deliver the project, while Vertice and Image Façade will provide the necessary expertise and equipment.
It said the MoU will remain in full force for not more than a year.
Vertice shares fell 3 sen or 3.33% to 87 sen yesterday, giving it a market capitalisation of RM162.6 million.
This article first appeared in The Edge Financial Daily, on Sept 13, 2018.
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