Malaysia: NWP Holdings secures RM30 million worth of aluminium formwork contract

NWP Holdings Bhd has received a formal note from Pembinaan Bintang Baru Sdn Bhd that it has selected its wholly-owned subsidiary NWP Construction Sdn Bhd as the sub-contractor to endeavour the supply and installation of aluminium formwork system and skim coating works for RM 30.4 million.

While filing at the bourse, the company stated: “The works will be done for two development sites in Setia Alam, Selangor, and in Kepong, Kuala Lumpur.”

Yap Shuh Jian, the CEO of NWP said: “The contracts mark the group’s foray into the construction industry.”

“The company is poised to leverage on its key management’s extensive experience to expand its construction arm.”

“We are excited with our new ventures to be key earnings contributors for the group in the near term. The secured projects are vital to our profile in the industry,” he added.

However, the group anticipates the projects to be accomplished between 15 and 18 months from the date of commencement.

The company further said that the projects will confer definitely to its future revenue, earnings and net assets of the group.