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Vivocom secures RM3.8b sand supply contract
The Edge 26/2/2021 Justin Lim © Provided by The Edge
KUALA LUMPUR (Feb 26): Vivocom Intl Holdings Bhd today announced a US$934.7 million (RM3.79 billion) sand contract awarded by the joint-venture contractor undertaking the main reclamation works for the Hong Kong International Airport Three Runway System project.
In a statement, the group said the three-year contract was clinched by V Development Group which will soon merge with Vivocom via its 97%-owned subsidiary Rain International Sdn Bhd.
Under the contract, Rain International is responsible for supplying sand to Zhen Hua Engineering Co Ltd-China Communications Construction Co Ltd-CCC Dredging (Group) Co Ltd (ZHEC-CCCC-CDC) joint venture.
Aspires to be a major industry player âwith exponential growth prospectsâ
KUALA LUMPUR, MALAYSIA â Media OutReach â 26 February 2021 â In a filing to Bursa Malaysia this evening, Vivocom Intl Holdings Berhad (âVivocomâ) announced that V Development Group via one of its subsidiaries has secured a âmassive winâ worth approximately USD934.7 million or the equivalent of RM3.79 billion.
Rain International Sdn Bhd (âRain Internationalâ) is a 97% owned subsidiary under the V Development Group which was recently merged into the Vivocom Group. The Companyâs proposed acquisition of V Development Group had been recently approved by the relevant authorities.
Rain International is principally involved in the mineral trading and exportation business, supplying sand to its client mainly in Hong Kong and China for reclamation and construction works. Â The Company had recently signed a contract for the supply of marine sand for
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