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KUALA LUMPUR: Sunway Construction Group Bhd
’s (SunCon) wholly-owned subsidiary, Sunway Construction Sdn Bhd (SCSB), has accepted the letter of initial appointment (LOIA) from K2 Strategic Infrastructure Malaysia Sdn Bhd to commence and complete the proposed development of Data Centre in Johor worth RM192.88 million.
In a filing with Bursa Malaysia, SunCon said the contract included all applicable taxes and levies in relation to the LOIA works.
“The duration for the completion of the LOIA works is approximately 13 months, starting in October 202, and is expected to be completed in November 2024,” it said.
The group said the LOIA would not have any effect on the share capital and substantial shareholders’ shareholding as well as any immediate material effect on the earnings per share, net assets per share and gearing of SunCon for the financial year ending Dec 31, 2023.
“However, barring any unforeseen circumstances, the LOIA is expected to contribute positively to the earnings of SunCon for the financial year ending Dec 31, 2023 onwards,” it added. – Bernama
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