KUALA LUMPUR (March 3): Bertam Alliance Bhd has bagged a sub-contract contract worth RM82 million from Akas Permai Sdn Bhd for the construction of building and infrastructure works for a hotel in Kota Kinabalu, Sabah.

In a Bursa Malaysia filing, Bertam Alliance said the sub-contract has been awarded to its wholly owned subsidiary Bertam Development Sdn Bhd (BDSB), which is principally engaged in property development, as well as building and construction.

Its client Akas Permai is a private limited company that is principally engaged in construction.

BDSB shall commence the sub-contract works with immediate effect and the date for completion shall be Nov 30, 2024.

Bertam Alliance said the letter of award is expected to have a positive contribution to the group’s earnings per share, net assets per share and gearing.

Shares in Bertam Alliance were last traded on Feb 27. At seven sen, the Practice Note 17 company's market capitalisation stood at RM17 million.