AIZO Group Berhad, previously known as Minetech Resources Berhad, has announced that its wholly-owned subsidiary, Minetech Construction Sdn. Bhd. (MCSB), has accepted a Letter of Award (LOA) from Richmont Estate Sdn. Bhd., formerly Panca Resmi Sdn Bhd, to undertake external infrastructure works for a project in Serendah, Hulu Selangor, Selangor Darul Ehsan. The contract is valued at RM14.55 million.

The scope of the project will involve the execution and completion of external infrastructure works for the development. Work is expected to commence on 26 August 2024, with a completion date set for 25 August 2025. AIZO will oversee all external infrastructure work to ensure timely completion to the highest standards.

This contract further strengthens AIZO's construction portfolio and highlights the company's capability in executing large-scale infrastructure projects. En. Ahmad Rahizal Bin Dato' Ahmad Rasidi, Executive Director of AIZO, expressed his enthusiasm regarding the contract: "We are honoured to have secured this contract with Richmont, a milestone that aligns with our newly rebranded identity as AIZO Group Berhad. It is a testament to our dedication to delivering greater value to our stakeholders and enhancing our presence in the sector."

As of 5:00 P.M. on 30 September 2024, AIZO's total order book size stands at RM265.77 million, with the company's share price closing at RM0.135, representing a market capitalisation of RM241.0 million. This project is expected to further affirm AIZO's position as a leading player in the construction industry and enhance its presence in the infrastructure sector.