ETALING JAYA: Widad Group Bhd has been appointed the sub-contractor for the design and construction of the new solid-waste transfer station in Kepong worth RM120mil.
In a filing with Bursa Malaysia, the company said its wholly owned subsidiary Widad Builders Sdn Bhd (WBSB) had accepted a letter of award (LoA) from Bumi Segar Indah Sdn Bhd appointing WBSB as the sub-contractor to design and build the solid-waste transfer station at Taman Beringin.
The contract period for the project will be from the date of the LoA until April 19,2025.
The company said it would fund the project via internally generated funds and external borrowings, and that the project is expected to contribute positively to the earnings and net assets of the Widad Group over its duration.
Should WBSB fail to complete the project by the agreed time period or any extended time granted, the amount of RM24,008.21 per calendar day as liquidated and ascertained damages for the period during which the project remains incomplete will be imposed.