What is the value of new contracts secured by Prestar Resources Bhd?

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Prestar Resources Bhd Secures RM80 Million in New Contracts

Prestar Resources Bhd has secured contracts totalling RM80 million for the supply of guardrails and accessories for the Pan Borneo Highway project in Sarawak. These new agreements are anticipated to positively impact the company's earnings for the financial years ending December 31, 2020, and December 31, 2021.
Contract Value and Scope

The total value of the newly secured contracts for Prestar Resources Bhd amounts to RM80 million. These contracts specifically pertain to the supply of guardrails and associated accessories. The scope of these agreements covers the provision of these essential components until December 31, 2021.
Project and Location

The guardrails and accessories supplied under these contracts are designated for the Pan Borneo Highway project within Sarawak. This significant infrastructure development aims to connect Sarawak and Sabah with neighbouring regions. Prestar Resources will be delivering its products to four distinct work packages associated with this highway project.
Impact on Future Earnings

The successful acquisition of these contracts is expected to contribute positively to Prestar Resources Bhd's future financial performance. Specifically, the company anticipates a beneficial impact on its earnings for the financial years ending December 31, 2020, and December 31, 2021. This positive contribution is projected to continue until the respective agreements and contracts reach their expiry dates.
Supply Agreements and Awarding Parties

The contracts were secured through a combination of supply agreements and direct contract awards. Prestar Resources' wholly-owned subsidiary, Prestar Engineering Sdn Bhd, entered into two supply agreements with PANSAR Company Sdn Bhd. Additionally, contracts were awarded by LTC West Gate Sdn Bhd and Kemakmuran 2000 Sdn Bhd for the supply and delivery of the required guardrails and accessories.

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What is the value of new contracts secured by Prestar Resources Bhd?

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