Malaysia-based Ahmad Zaki Resources Bhd (AZRB
) has said that it has secured funding from Affin Bank.
said, The contract works are expected to contribute positively to the groups future earnings.
said it had received the letter of award (LoA) from Institute of Technology Petronas Sdn Bhd for the construction of two academic buildings and a Tenaga Nasional Bhd substation at Universiti Teknologi Petronas in Bandar Seri Iskandar, Perak.
AZRB said it was offered the letter of award by BBCC Development Sdn Bhd, and the works are slated for completion in 28 months.
The new contract brings AZRBs current order book to RM3.7 billion, expected to sustain the group over the next 3 to 4 years.
According to AZRB
, the subsidiary is in receipt of the letter of award for Substructure Package B2 (Parcels 4 and 5): earthworks, piling, diaphragm wall, RC works, transmission main intake substation (PMU) and main distribution substation (PPU) works.
informed Bursa Malaysia that it had received the letter of award from IIUM yesterday.