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AZRB Bags RM316m Contract for Istana Abu Bakar Renovation

The Malaysian Reserve ·  Apr 2 19:53

Ahmad Zaki Resources Bhd (AZRB) has clinched a contract worth RM315.90 million from the Public Works Department for the upgrading and renovation of Istana Abu Bakar in Pekan, Pahang.

The company disclosed in a bourse filing that its wholly-owned subsidiary, Ahmad Zaki Sdn Bhd (AZSB), received the letter of acceptance, with the contract valid for 30 months starting from April 1, 2024.

AZRB expects the contract to positively impact its future earnings.

Furthermore, AZRB emphasized that neither its directors nor substantial shareholders, nor any persons connected with them, have any interest, direct or indirect, in the contract.

AZRB's shares closed at 22 sen today, reflecting a gain of 0.5 sen and valuing the group at RM144.3 million.

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