The project will commence in the second half of FY2020 ending September, and is expected to be completed by December 2022.
“This is a sizeable and longer duration project as compared to our other projects which typically runs for less than a year. It will therefore provide more stability and visibility to our revenue, order book and resource planning,” says Lim Say Chin, executive chairman and managing director of Acromec.
The sub-contract is expected to contribute positively to Acromec’s earnings per share and net tangible assets per share for FY2020.
Shares in Acromec closed 0.6 cent lower, or down 7.5%, at 7.4 cents on Monday, before the announcement.
