Firbromat bags RM283.5mil subcontract for CSR project in Kelantan
KUALA LUMPUR: Fibromat (M) Bhd's wholly-owned subsidiary, MTS Fibromat (M) Sdn Bhd, has secured a RM283.5 million subcontract for the execution and completion of geotechnical and erosion control works for the Central Spine Road (CSR) project in Kelantan.
In a filing with Bursa Malaysia today, the company said the project under CSR Package 2 and Section 2A entails the geotechnical services and infrastructure-related works for road construction from Sungai Lakit Bridge to Gua Musang and Sungai Lakit Bridge to Paloh 2.
MTS Fibromat has accepted the Letter of Award from Casa Hartamas Sdn Bhd. The 24-month contract will commence from May 15, 2025 to May 15, 2027.
MTS Fibromat will act as a subcontractor to Casa Hartamas, which was appointed by the main contractor, Core Value Sdn Bhd. The ultimate project owner is the Public Works Department of Malaysia.
Fibromat managing director and chief executive officer Danny Ng Kian Boon said the project marks a significant milestone for the company as it represents its first foray into infrastructure construction services, particularly through participation in a portion of the CSR project.
"It presents an excellent opportunity for us to expand our capabilities and diversify our portfolio beyond our core expertise.
"In accordance with the JKR Works Schedule, our scope of work includes, but is not limited to, demolition and site clearance, earthworks, drainage works, pavement works, road furniture, environmental protection works, geotechnical components, and supporting structural works," he said.
Ng said the venture supports the company's strategic goal of gradually establishing a presence in infrastructure development to become a turnkey service provider in Malaysia.
The project is expected to contribute positively to Fibromat's financial performance over the next two to three years, beginning May 15, 2025.
With the inclusion of this new project, Fibromat's outstanding order book now stands at about RM317.8 million as at May 15, 2025. The company remains confident that its focus on high-impact projects will continue to drive positive financial results.
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