Kuala lumpur: Construction company Vestland Bhd's wholly owned subsidiary, Vestland Infra Sdn Bhd (VISB), has accepted a letter of award from Scanwolf Trading and Construction Sdn Bhd (STCSB) for a works contract worth RM65 million. In a filing with Bursa Malaysia today, Vestland announced that the contract involves piling and substructure works for a 74-storey service apartment block, including car parks, a basement, shop lots, and related facilities at Jalan Pavilion.

According to BERNAMA News Agency, the completion of the contract works is scheduled for June 18, 2028, with the commencement date being today. Vestland stated that the contract will not affect the issued share capital and substantial shareholders' shareholdings, as there is no issuance of new ordinary shares in the company.

The company expects this contract to contribute positively to the earnings and net assets of Vestland and its subsidiaries for the duration of the contract, assuming no material delays occur.