Latest news with #Nestcon
Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
Nestcon revises RM211.7m property JV plan, delays diversification into development
CONSTRUCTION firm Nestcon Bhd said its proposed diversification into property development will take more time and is being revised. In a filing with Bursa Malaysia today, the company said it will amend the terms of its joint venture with Kumpulan Wilayah Sejati Sdn Bhd for a RM211.7 million serviced apartment project, citing the need for further due diligence on the two parcels of land involved. The company said revised details related to the JV and diversification plan will be announced later. The draft circular to Bursa Malaysia will be submitted once the updated proposal is finalised. Shareholder approval is required for Nestcon to formally diversify into property development. Separately, Nestcon is proceeding with a RM15.1 million related-party acquisition of three office units in its Nest 2 Residences project in Puchong, which will serve as its new corporate headquarters. The projects will be funded via internal funds and bank borrowings. Draft circulars for the acquisition will be submitted separately to Bursa Securities. — TMR
The Star
14-05-2025
- Business
- The Star
Nestcon wins RM44mil Labu project
KUALA LUMPUR: Nestcon Bhd 's subsidiary, Nestcon Borneo Sdn Bhd (NBSB), has received a RM44.12mil contract from Matrix Excelcon Sdn Bhd for site clearing and earthworks in Labu, Negri Sembilan. In a filing with Bursa Malaysia, Nestcon said the contract covers site clearing and earthworks for a proposed 1,382-acre mixed development in Labu. NBSB is a 51%-owned subsidiary of Nestcon Infra Sdn Bhd, which in turn is a wholly-owned subsidiary of Nestcon. The sub-contract works will begin on May 15, 2025, and are expected to be completed within 32 months, by Jan 14, 2028. Nestcon expects the contract to contribute positively to its net assets per share, earnings per share, and gearing throughout the duration of the works.
New Straits Times
13-05-2025
- Business
- New Straits Times
Nestcon bags RM44.12mil contract in Negeri Sembilan
KUALA LUMPUR: Nestcon Bhd's (Nestcon) subsidiary, Nestcon Borneo Sdn Bhd (Nestcon Borneo), won a RM44.12 million sub-contract from Matrix Excelcon Sdn Bhd. In a Bursa Malaysia filing today, Nestcon said Nestcon Borneo had accepted the letter award from Matrix Excelcon for a works sub-contract in Negeri Sembilan. It said the contract was for site clearing and earthworks for a 559.28 hectares mixed development in Seremban, Negeri Sembilan. "The contract shall commence on May 15, 2025, and the overall completion period shall be 32 months, and the completion date shall be Jan 14, 2028," it said. Nestcon said the contract is expected to contribute positively to the net assets per share, earnings per share and gearing of the company.
The Star
13-05-2025
- Business
- The Star
Nestcon subsidiary wins RM44.12mil contract in Labu
KUALA LUMPUR: Nestcon Bhd 's subsidiary, Nestcon Borneo Sdn Bhd (NBSB), has secured a RM44.12mil contract from Matrix Excelcon Sdn Bhd for site clearing and earthworks in Labu, Negeri Sembilan. In a filing with Bursa Malaysia, Nestcon said the contract covers site clearing and earthworks for a proposed 1,382-acre mixed development in Labu. NBSB is a 51% owned subsidiary of Nestcon Infra Sdn Bhd, which in turn is a wholly-owned subsidiary of the company. The sub-contract works will begin on May 15, 2025, and are set to complete in 32 months, by Jan 14, 2028. Nestcon expects the contract to contribute positively to the company's net assets per share, earnings per share, and gearing throughout the duration of the sub-contract works.
