AIZO Group Berhad (AIZO) has announced that its wholly-owned subsidiary, Minetech Construction Sdn. Bhd. (MCSB) has accepted a Letter of Award (LOA) from Richmont Estate Sdn. Bhd. (Richmont) to undertake external infrastructure works for a project in Serendah, Hulu Selangor, Selangor Darul Ehsan. The contract is valued at RM14.55 million.
The project will involve the execution and completion of external infrastructure works for the development. This contract is expected to commence on 26 August 2024 with completion date set on 25 August 2025, with AIZO overseeing all external infrastructure work to ensure timely completion to the highest standards.
The awarding of this contract further strengthens AIZO’s construction portfolio and underscores its capability in executing infrastructure projects of significant scale.
En. Ahmad Rahizal Bin Dato’ Ahmad Rasidi, the Executive Director of AIZO, commented, “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. This project also reaffirms our position as a leading player in the construction industry, and we are confident it will enhance our presence in the infrastructure sector.”
As at 5:00 P.M. 30 September 2024, the total orderbook size of AIZO stands at RM265.77million, where the share price of the company closed at RM0.135, representing a market capitalisation of RM241.0 million.