KUALA LUMPUR (July 30): Gabungan AQRS Berhad (Gabungan AQRS), which is en route to be listed on the Main Market of Bursa Malaysia on July 31, has received a letter of acceptance for a RM141 million turnkey contract from Jabatan Kerja Raya Malaysia (JKR) to provide for road upgrading works in Negeri Sembilan.
In a statement Monday, its chairman Datuk Kamarudin Md Ali said that the contract was an acknowledgement of the company’s reputation as an integrated engineering and construction services provider as well as its track record within the domestic construction industry.
“Of course, we will not stop here. We will continue to double our efforts and bid for more projects in line with the nation’s ongoing development efforts” he said.
Kamarudin said the contract would take into effect immediately and was expected to be completed by end of year 2014, expected to contribute positively to Gabungan AQRS’ earnings for the financial year ending 31 December 2012 onwards.
For financial year ended 31 December 2011, the Group recorded a proforma net profit of RM48.2 million, on revenue of RM372.4 million.
The Group’s previously-completed works include the RM110.0 million Seremban-Senawang federal road, the RM150.0 million Institut Kemahiran Belia in Kuala Langat, and 43 school blocks in Kuala Lumpur and Selangor totalling RM150.0 million.
Gabungan AQRS’ on-going construction works include the RM104.6 million Puchong Perdana Interchange and the RM277.2 million Lebuhraya Damansara-Puchong extension.
To date, the group has delivered construction projects worth a total of RM896.6 million and has a current order book of RM855.5 million lasting till end-2015.