Annum Berhad's (Annum), indirectly wholly-owned subsidiary Annum EPCC Sdn Bhd, has accepted a letter of award dated 1 July 2024 from Kacon Construction Sdn Bhd (Kacon Construction) to supply material, labour and machineries for piling, structure and architecture for main building works of a 24-storey office building located at Jalan Tun HS Lee for a contract sum of approximately RM53.2 million.

The salient terms of the Sub-Contract include a scope of work comprising of the supply material, labour and machineries for piling, structure and architecture for main building works of a 24-storey office building, the company said in a Bursa Listing today.

The commencement date of the Sub-Contract works shall be on 15 July 2024 with the Sub-Contract period of 24 months.

Kacon Construction was incorporated in Malaysia on 29 September 2020 and is an indirect subsidiary of Iqzan Holding Berhad and principally involved in construction of buildings related business.

Annum EPCC was incorporated in Malaysia with its principal activity being in construction, project management and its related activities including engineering, procurement, constructions and commissioning.

The Sub-Contract is expected to contribute positively towards the earnings and net assets of the Group for the duration of the Sub-Contract assuming no material delay.