LEFORM 0266 LEFORM BERHAD accepts RM10 mil West Coast Expressway job

 
 LEFORM 0266 LEFORM BERHAD accepts RM10 mil West Coast Expressway job

KUALA LUMPUR (Dec 19): Leform Bhd, through its 60%-owned subsidiary LF Engineering Sdn Bhd, has received a letter of acceptance from Ganda Imbuhan Sdn Bhd, as a subcontractor for the supply and installation of guard rails for a portion of the West Coast Expressway.

According to a statement on Monday (Dec 19), the subcontract is valued at RM10.05 million and is expected to be completed on June 30, 2023.

The project includes Section 6 between the Kapar interchange and the Assam Jawa interchange in Selangor.

The subcontract is also expected to contribute positively to the revenue, earnings and net assets of Leform up to the financial year ending Dec 31, 2023.

Once completed, the expressway will be the third longest highway in Peninsular Malaysia, spanning 233 kilometres, after the North-South Expressway at 966 kilometres and the East Coast Highway (330 kilometres).

According to Leform managing director Law Kok Thye, the subcontract is the first contract secured by the group since becoming a listed entity.

"Given our technical expertise and long track record in the steel industry, we are confident we stand a good chance to clinch more projects in the coming days," said Law in a press statement.

"As we move forward, our capabilities to cater for higher production volume certainly bodes well with the optimistic backdrop of the expected rising steel consumption driven by the recovery in manufacturing and construction industries."

At market close on Monday, Leform's share price remained unchanged at 21.5 sen.

http://www.theedgemarkets.com/article/leform-accepts-rm10-mil-west-coast-expressway-job