Date of Report

24 October 2024

Broker

UOB Kay Hian

Company Overview

Greencove Sdn Bhd (GSB) is a subsidiary involved in construction and development projects, focusing on site clearance, piling, and structural works within the urban development sector.

Recent Contract Award

Greencove Sdn Bhd has secured a significant contract from Kerjaya Prospek Group. The details of the contract include:

• Project Scope: Encompasses site clearance, piling, and structural works for a development project.
• Contract Value: RM18.4 million.

Financial Impact

The contract awarded to GSB is expected to contribute approximately RM3.0 million to RM4.0 million over the next 18 months, demonstrating the company’s capability to undertake substantial projects and its vital role in the operational success of Kerjaya Prospek Group.

Strategic Importance

As part of Kerjaya Prospek Group’s portfolio, Greencove Sdn Bhd plays an essential role in driving the group’s growth and enhancing its construction capabilities. The company’s focus on key development works positions it favorably in the competitive construction landscape.

Conclusion

Greencove Sdn Bhd’s recent contract win highlights its active participation in the construction sector and its partnership with Kerjaya Prospek Group, reinforcing its position as a significant contributor to Malaysia’s infrastructure and development projects.