PROGRESSIVE Impact Corp Bhd (PICORP) has bagged a contract worth RM8.46 million from Pelabuhan Tanjung Pelepas Sdn Bhd (PTP) for the construction of Sewerage Treatment Plant (STP) Module 2 in Tanjung Pelepas, Gelang Patah, Johor.
In a filing with Bursa Malaysia, it said the eight-month contract was secured through its wholly-owned subsidiary, Alam Sekitar Malaysia Sdn Bhd (ASMA).
ASMA’s obligations under the contract shall involve the execution and completion of the construction of STP Module 2, upgrading of STP Module 1 and remedying the defects therein in conformity with the provision of the contract, it said.
The contract is the first collaboration business that ASMA has with PTP, which is 70% owned by MMC Corporation Bhd, to undertake the construction of STP Module 2, upgrading of STP Module 1 and remedying the defects therein in conformity with the provision of the contract.
“ASMA has successfully delivered a similar project in the construction of STP, and the award of the contract to ASMA signifies PTP’s confidence in ASMA’s proven experience and strength in the sewerage treatment plant segment,” PICORP said.
The contract is expected to have a positive financial effect on the net assets per share and earnings per share of PICORP for the financial year ending Dec 31, 2020 until 2021. – May 13, 2020, Bernama
