KUALA LUMPUR: Nestcon Bhd has secured a RM74.52mil contract from Exsim MX4 Sdn Bhd to build a 28-storey affordable apartment block in Kwasa Damansara, Selangor.

In a filing with Bursa Malaysia, the construction group said its wholly owned subsidiary, Nestcon Builders Sdn Bhd, accepted the letter of award on Aug 3.

The contract covers the construction of a 28-storey affordable apartment at Jalan Tasik Kenyir U4/21A, Kwasa Damansara, Shah Alam.

Construction will commence immediately and is scheduled for completion within 29 months, with the project expected to be completed by Jan 2, 2029.

Nestcon said the contract is expected to contribute positively to the group's earnings per share, net assets per share and gearing over the duration of the project.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.