Ecobuilt Holdings announce that its wholly-owned subsidiary company, Rexallent Construction Sdn. Bhd., had accepted the letter of Award issued by ARKITEK KDI SDN. BHD. for the appointment as the contractor to construct a main building for RM190 million.

The work involves to undertake the execution, performance, construction, completion and maintenance of main building works. The contract is expected to be completed within thirty-six months or within such extended date as Conditions of Contract provides. The Company is of the view that the contract is in the best interest of EcoBuilt's Group.

While the contract would not have any material effects on the share capital and shareholding structure of the company, it is expected to contribute positively to the earnings per share and net assets per share of EcoBuilt for the financial year ending 2024 onwards. The group said there are no significant risks other than operational risks associated with this Contract.