News & Events

Central Global clinches RM616.4mil Pan Borneo Highway contract

PETALING JAYA: Central Global Bhd (CGB), via its wholly-owned sub-subsidiary RYRT International Sdn Bhd, has accepted a letter of award from Pembinaan Urusmesra Sdn Bhd for road upgrades to the Sabah Pan Borneo Highway project, worth RM616.4mil.

In a filing with Bursa Malaysia, CGB said the contract is for the construction and completion of Phase 1B that will comprise the upgrading of roads from the Lahad Datu Bypass to the Kg Sandau (work package 22).

“Under the scope of the contract, RYRT will be responsible for the supply of plant, machinery, labour and materials required for the construction and completion of the project.

“The letter of award is for the construction and completion of the project for a period commencing on Sept 30, 2024 and ending on March 29, 2028.”

CGB said the project award has significantly increased the group’s order book by 456.3%, amounting to RM751.5mil.

CGB group managing director Chew Hian Tat said: "This is a strong indication of the group’s capability to undertake and deliver a megaproject of this magnitude. We are now rather optimistic and eagerly looking forward towards future project awards from our tender books estimated to be at RM3.7bil”.

Barring any unforeseen circumstances, CGB said the contract is expected to provide a steady stream of revenue to the group over the next three and a half years.

CGB closed up one sen, or 1.12% to 0 sen with 6.34 million shares traded.