Benalec undertakes coastal protection works for RM21.5mThe Edge Markets
5th April, 2018
KUALA LUMPUR (April 5): Benalec Holdings Bhd has bagged a contract from Oriental Holdings Bhd for the construction of rock revetment in Melaka for RM21.56 million.
The group said its wholly-owned subsidiary, Benalec Sdn Bhd, will undertake the project awarded by Oriental's subsidiary, Oriental Boon Siew (M) Sdn Bhd.
The project involves the construction and maintenance of rock revetment and associated works over a 1.85km stretch between Kuala Sungai Melaka and Kuala Sungai Seri Melaka.
It will encompass the laying of rocks along the coastline of the project site as coastal protection works to avoid future erosion, Benalec said in a filing to Bursa Malaysia.
Benalec added that the project is in line with the group's principal activities which include the provision of marine construction services such as land reclamation, dredging, beach nourishment and coastal protection works.
The group said the project is expected to contribute positively to its earnings and net assets per share for the financial year ending June 30, 2018 onwards.
Benalec's share price closed unchanged at 30 sen today, with 1.25 million shares traded, for a market capitalisation of RM239.73 million.