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KUALA LUMPUR (Oct 16): Bertam Alliance Bhd has secured a contract worth RM24.98 million for the proposed construction of an office complex for the Malaysian Anti-Corruption Commission (MACC) in Sabah.
In a filing on Bursa Malaysia on Friday, the property developer said its wholly-owned unit Bertam Development Sdn Bhd (BDSB) has accepted a letter of award (LoA) from BBSB Holdings Sdn Bhd (BHSB) dated July 5, 2021 to act as sub-contractor for the proposed construction of the project.
According to Bertam, BDSB did not accept the LoA from BHSB earlier, as Sabah was under a three-phase lockdown from May 12, 2021 until to-date.
“Pursuant to the LoA, BDSB is required to commence work on July 14, 2021, but the construction industry is not regarded as an essential service, thus, no work order will be granted by the Ministry of International Trade and Industry (MITI) to start work on the project.
“On Oct 15, 2021, BHSB decided to grant exemption to BDSB to commence work on the project by Nov 1, 2021,” it said.
Bertam noted the duration of the contract is for 30 months, with the expected completion date of the project to be on Jan 9, 2024.
Bertam said the project provides an avenue for the group to increase its order book and potentially improves its income streams and profitability.
Shares in Bertam closed unchanged at 12 sen on Friday, for a market value of RM29.77 million.
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