KUALA LUMPUR: PTT Synergy Group Bhd‘s wholly owned subsidiary PTT Infra Sdn Bhd has accepted a contract from Topicana Development (Johor Bahru) Sdn Bhd to undertake frequent infrastructure works in Jeram Batu in Pontian, Johor, amounting to RM53.8mil.
The development group stated in a submitting with Bursa Malaysia that the works was in respect of Phase 1 of the proposed industrial structure and services.
“The acceptance of the letter of award is within the abnormal course of enterprise of PTT.
“Further, additionally it is carried out at arm’s size and based mostly on industrial phrases which aren’t extra beneficial than these obtainable to most of the people,” it stated.
It added that the contract is anticipated to contribute positively to PTT Group’s earnings over its period.
At market shut, PTT final traded two sen or 2.12% decrease at 92.5 sen a share on the again of 60,400 models traded.