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- The contract is for a period of 10 months, from Sept 22, 2022, to July 22, 2023.
KUALA LUMPUR (Sept 12): Widad Group Bhd has secured a contract worth RM40 million for a mixed-use development in Langkasuka, Langkawi.
In a bourse filing, it said its wholly-owned subsidiary Widad Builders Sdn Bhd (WBSB) had on Monday (Sept 12) received a letter of award and acceptance from Langkasuka Land Sdn Bhd for the construction and completion of earthworks for the mixed-development project.
WBSB is principally involved in construction and integrated facilities management activities.
The contract is for a period of 10 months, from Sept 22, 2022, to July 22, 2023.
According to Widad, the construction project, which will be funded via internally-generated funds and external borrowings, is expected to contribute positively to the group’s earnings and net assets over the duration of the project.
“The project is subjected to normal construction risk of materials price fluctuation and subcontractors’ performance. However, based on past experiences and expertise in undertaking construction projects, the risks could be mitigated,” Widad added.
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