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Tuesday, May 19, 2009

Ahmad Zaki unit gets RM185mil Saudi job

PETALING JAYA: Ahmad Zaki Saudi Arabia Co Ltd (AZSA), a wholly-owned subsidiary of local construction company Ahmad Zaki Resources Bhd (AZRB), had on May 12 accepted works order worth RM185mil from Saudi Oger Ltd of Saudi Arabia to build reinforced concrete structures for Tower H1-A of the Jabal Omar Development in Mecca.

In a filing to Bursa Malaysia yesterday, AZRB said the works were expected to be completed in 18 months from the acceptance of the order.

AZRB said the contract was expected to contribute positively to the group’s earnings and net tangible assets for the financial year ending Dec 31, 2009 and the following financial year.

The directors were of the opinion that the works were in the best interest of the company and that it would not have any effect on the issued and paid-up capital of AZRB.

By The Star

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