Gabungan AQRS secures RM141m roadworks contract

KUALA LUMPUR: Gabungan AQRS Bhd,
which is set to be listed on the Main Market of Bursa Malaysia on
Tuesday, had secured a RM141mil contract from the Public Works
Department (PWD).
The company said on Monday its unit, Gabungan Strategik Sdn Bhd, had received a letter of acceptance from PWD for the turnkey contract involving upgrading roads in Negeri Sembilan.
"The
contract will begin immediately and is expected to be completed by
end-2014. It is expected to contribute positively to Gabungan AQRS'
earnings for the financial year ending Dec 31, 2012 onwards," it said.
For FY ended Dec 31, 2011, the group recorded a proforma net profit of RM48.2mil on the back of revenue of RM372.4mil.
The
group's recent projects included the RM110mil Seremban-Senawang federal
road, the RM150mil Institut Kemahiran Belia in Kuala Langat, and 43
school blocks in Kuala Lumpur and Selangor totalling RM150.0mil.
Gabungan
AQRS' on-going construction works include the RM104.6mil Puchong
Perdana Interchange and the RM277.2mil Lebuhraya Damansara-Puchong
extension.