KUALA LUMPUR, Dec 9 (Bernama) -- Muhibbah Engineering (M) Bhd has secured a contract from the Institute of Technology Petronas Sdn Bhd, a subsidiary of Petroliam Nasional Bhd (Petronas) for RM116.4 million.
The contract was awarded for the construction and completion of student accommodation and student centre at Universiti Teknologi Petronas, Bandar Seri Iskandar in Perak, a filing with Bursa Malaysia said today.
The work order is scheduled to commence on Dec 15, 2022, and the project is expected to be completed within 30 months from the commencement date.
On financial effects, the contract is expected to contribute positively to the earnings and net assets of the group for the current and future financial years.
It also noted that the contract does not have any impact on the share capital and/or shareholding structure of Muhibbah.
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