- AWC said the subcontract awarded by Lim Hoo Seng Construction Sdn Bhd to Qudotech Sdn Bhd, AWC’s wholly-owned entity, will contribute positively to the group’s results.
KUALA LUMPUR (May 3): AWC Bhd has been awarded a RM7.17 million subcontract for works related to cold water, hot water, rainwater harvesting, plumbing and the installation of plumbing fixtures and crockery work for a seven-storey block of luxury apartments in Bukit Damansara , Kuala Lumpur.
The sub-contract period corresponds to the main contract, which ran from November 1, 2022 to June 30, 2025, AWC said in an exchange filing.
AWC said the subcontract awarded by Lim Hoo Seng Construction Sdn Bhd to Qudotech Sdn Bhd, AWC’s wholly-owned entity, will contribute positively to the group’s results.
For the first half of the fiscal year ended June 30, 2023 (1HFY2023), AWC’s net income fell 13% to RM10.96 million from RM12.59 million a year earlier, despite higher revenues, as increased operating expenses eroded profitability .
Revenue increased 20% to RM192.58 million for the 1HFY2023 from RM159.93 million in the corresponding period last year.
Shares of AWC closed unchanged at 51 Sen on Wednesday, giving the group a market capitalization of RM164.57 million.