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KUALA LUMPUR (April 22): Minetech Resources Bhd's wholly-owned subsidiary Minetech Construction Sdn Bhd (MCSB) has received a letter of intent from Bumimaju MTE Engineering Sdn Bhd to appoint MCSB as a contractor to undertake a civil works project
In a Bursa filing today, Minetech Resources said the civil works project is related to a pipeline laying project at Hulu Grik in Perak. However, the monetary value of the contract was not disclosed.
"The project is expected to take approximately 12 months from the date of securing the site, whilst the terms and conditions of the project is to be finalised within 6 months’ time.
"The project is expected to contribute positively to the revenue, earnings and net assets of the group for the financial year ending March 31, 2021,” it said.
Shares in Minetech Resources traded unchanged at 27 sen, giving the group a total market capitalisation of RM259 million.
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