Aneka Jaringan Holdings Berhad (“Aneka Jaringan” or the “Group”; Bursa: ANEKA, 0226), a basement and foundation construction specialist, is pleased to announce that its wholly-owned subsidiary, Aneka Jaringan Sdn. Bhd. (“AJSB”), has received and accepted a Letter of Award (“LOA”) valued at RM31.16 million for substructure works for a proposed high-rise serviced apartment development in George Town, Penang.
The LOA was awarded by Exsim Waterfront Sdn. Bhd., appointing AJSB as the main contractor for substructure works including temporary works, piling, pile caps, and associated foundation construction. The project involves the development of a 57-storey serviced apartment tower comprising one sub-basement and one mezzanine floor, together with multi-storey car parks, utility spaces, recreational facilities, and supporting infrastructure on reclaimed land at Seksyen 8, Bandar George Town, Daerah Timur Laut, Pulau Pinang.
Construction is scheduled to commence on 18 December 2025 and is targeted for completion within a contract period of thirteen months, by 17 January 2027. The contract is expected to contribute positively to the Group’s earnings and net assets for the financial years ending 31 August 2026 and 31 August 2027.
Commenting on the contract award, Pang Tse Fui, Managing Director of Aneka Jaringan, said, “This contract reflects continued confidence in our technical capabilities for complex substructure works in dense urban environments. Penang is a strategically important market for the Group, and we remain focused on disciplined execution, strong safety standards, and timely delivery as we expand our presence in high-rise residential developments.”
Aneka Jaringan’s total project wins as at 31 August 2025 stand at approximately RM281.49 million. Following the end of the financial year 2025, the Group has also secured additional contracts from Alderwood Residence @ Jalan Lombong KL valued at RM8.45 million, Keeperz Suites @ Penang amounting to RM15.22 million, and Blossom Square @ Setia Alam worth RM18.00 million. Aneka Jaringan continues to pursue projects across residential, commercial, and infrastructure segments nationwide, supported by its proven expertise in basement, piling, and foundation works, which highlights the Group’s long-term earnings visibility.
