JAKS unit secures RM37.87 mln water supply subcontract in Sarawak

KUALA LUMPUR (March 19): JAKS Resources Bhd’s (JRB) wholly owned subsidiary has secured a RM37.87 million subcontract for a water supply project in Kapit, Sarawak.

In a filing with Bursa Malaysia on Wednesday, JRB said JAKS Sdn Bhd accepted a letter of award dated March 17, 2026, from I-Ilham Corporation Sdn Bhd to undertake the subcontract works at Kawasan Nanga Merit, Kapit, as part of the Sarawak Water Supply Grid Programme.

“The works are for an 18-month duration while the scope of work comprises the construction of a water treatment plant together with associated pipeworks,” it said.

JAKS said the subcontract is expected to contribute positively to the group’s earnings and net assets for the financial years ending Dec 31, 2026 and 2027.

“The sub-contract works will not have an effect on the share capital and shareholding structure of JRB,” it added.

The risks associated with the project are normal operational risks, which can be mitigated through its project management controls, the filing said.

None of its directors, major shareholders or persons connected to them has any direct or indirect interest in the subcontract. — Bernama