Epicon secures RM47.38 million subcontract for NPE extension
The new contract strengthens Epicon Bhd's order book in the highway construction segment through its 70%-owned subsidiary. The scope of work involves supplying concrete support beams for the New Pantai Expressway extension project, scheduled to begin in mid-November and be completed by the end of November 2028.
Highlights
- Concrete Empire Sdn Bhd, Epicon's subsidiary, secured a RM47.38 million subcontract from IJM Construction Sdn Bhd to supply concrete beams for the NPE extension.
- The subcontract works are expected to begin in mid-November 2024 and be completed by the end of November 2028, as part of the 15.9-kilometre NPE2 elevated highway project.
- Epicon shares closed unchanged at 18.5 sen last Wednesday, with a market capitalisation of RM116 million, up five sen year to date.
This article was translated from the original. Read the original version by our correspondent here.
Subcontract details and implementation schedule
As reported by The Edge Malaysia, Epicon said its subsidiary, Concrete Empire Sdn Bhd, had secured a RM47.38 million subcontract from IJM Construction Sdn Bhd to supply concrete support beams for the New Pantai Expressway extension, or NPE. Epicon said in a stock exchange filing on Wednesday that the works are expected to commence in mid-November and be completed by the end of November 2028.IJM Construction is a wholly owned subsidiary of IJM Corp Bhd. The NPE extension project, better known as NPE2, comprises approximately 15.9 kilometres of elevated highway and ramps linking the Pantai Toll Plaza to Jalan Istana via Jalan Syed Putra, and also involves the construction of a new toll plaza.
Implications for the highway sector and share performance
NPE2 is targeted for completion by 2029, making this subcontract part of broader road infrastructure development in Malaysia. In the local highway market, IJM holds concessions for several highways, including NPE, the Sungai Besi Expressway, or Besraya, the Kajang-Seremban Highway, or LEKAS, as well as the West Coast Expressway, or WCE.Epicon shares, formerly known as Konsortium Transnational Bhd, closed unchanged at 18.5 sen on Wednesday, giving the company a market capitalisation of RM116 million. Year to date, the shares have gained about five sen.
In our earlier report on the RM1.23 billion contract won by IJM Corporation to build AT&S's semiconductor manufacturing facility at Kulim Hi-Tech Park, we detailed the scope of the design-and-build project, including production buildings, central utilities and wastewater treatment, as well as the targeted completion timeline. We also highlighted how the award strengthens IJM's order book and supports the expansion of AT&S operations in Kulim, in line with demand for higher-value-added E&E supply chains in Malaysia.
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