Scanwolf Corporation Bhd’s wholly owned subsidiary, Scanwolf Plastic Industries Sdn Bhd, has secured a significant contract from Vestland Resources Sdn Bhd valued at RM70 million for superstructure and mechanical works. The contract involves the development of two commercial blocks: a 69-storey Small Office Home Office (SoHo) building and a 78-storey Small Office Versatile Office (SoVo) building. These projects form part of Vestland Resources’ broader commercial development plan, highlighting Scanwolf’s growing footprint in large-scale construction works. According to a Bursa Malaysia filing on Friday, the subcontract work is scheduled to commence on February 27, 2026, and is expected to be completed by June 9, 2029. Scanwolf noted that the award is likely to have a positive impact on the company’s earnings and net assets per share for the financial year ending June 30, 2026. This latest contract win reinforces Scanwolf’s reputation in delivering complex mechanical and superstructure projects and adds substantial value to its order book, supporting the company’s long-term growth objectives in the Malaysian construction sector.

OSK Property is preparing to launch OSK Yarra 33, a RM43.23 million commercial project featuring 33 freehold shop offices within the OSK Yarra Park township in Sungai Petani, Kedah, targeted for unveiling in the third quarter of 2026. Located on a 5.77-acre freehold parcel in Precinct 4, the development will comprise two- and three-storey shop offices tailored for contemporary business use. Indicative prices are expected to begin from RM785,000 for standard intermediate units measuring 22ft by 88ft, with a built-up area of 3,080 sq ft. Corner and end-lot units will also be available. Strategically positioned along Persiaran Yarra 1 and facing an established hypermarket, the project enjoys frontage within a catchment area estimated to serve around 220,000 residents from nearby townships including Bandar Puteri Jaya, OSK Yarra Park, Bandar Mutiara, Taman Batik and SP Heights. OSK Property chief executive officer Ong Ghee Bin said the launch follows the full take-up of BPJ Business Park and reflects growing demand for strategically located, well-designed commercial spaces in Sungai Petani. As OSK Yarra Park continues to evolve, OSK Yarra 33 is envisioned as a key commercial component supporting sustainable business growth and enhancing the township’s overall vibrancy. The project is part of OSK Yarra Park’s ongoing expansion, which has progressively strengthened its mix of residential and commercial offerings in the area.

Malaysia Airports Holdings Bhd (MAHB) has imposed RM9.1 million in liquidated and ascertained damages (LAD) on contractors responsible for the Kuala Lumpur International Airport (KLIA) aerotrain project, Transport Minister Anthony Loke confirmed in a written parliamentary reply on Thursday. The penalties were levied against the Alstom and IJM-Pestech Joint Venture (IPJV), covering a 91-day period from April 1 to June 30 last year. Under the terms of the contract, the LAD is calculated at RM100,000 per day, resulting in a total charge of RM9.1 million. Loke was responding to a parliamentary question from Khoo Poay Tiong (Pakatan Harapan-Kota Melaka), who inquired about the amount of LAD imposed on the Alstom-IJM-Pestech JV for failing to deliver the aerotrain project satisfactorily. The KLIA aerotrain links the satellite terminal building to the main terminal and is a critical part of passenger movement within the airport. Services were suspended in March 2023 following a major breakdown that left passengers stranded midway along the track. The system was initially scheduled to resume operations by March 31, 2025. The aerotrain replacement project was originally awarded to Pestech International Bhd in December 2021, with French rolling stock manufacturer Alstom supplying the trains. However, MAHB terminated Pestech’s contract five months later, citing non-performance, missed project milestones and the risk of further delays. In January 2024, Pestech was reappointed to the project, this time forming a joint venture with IJM Construction Sdn Bhd under a consortium with Alstom. The driverless aerotrain system eventually resumed operations in July 2025. Despite the system’s restart, it has continued to experience service disruptions, prompting complaints from passengers and the public. The RM456 million project, designed to improve connectivity between terminals and enhance passenger convenience, has faced repeated setbacks and operational challenges. The imposition of LAD underscores MAHB’s enforcement of contractual accountability and serves as a warning to contractors on the importance of adhering to project timelines and quality standards. The penalties aim to mitigate losses and ensure that infrastructure projects of strategic importance, such as the KLIA aerotrain, are delivered efficiently and reliably for the benefit of airport users.

Sunway Construction Group Bhd  has won new contracts worth RM1.15 billion for shell-and-core projects from a US-based multinational technology company. In a Bursa Malaysia filing, SunCon said its fully owned subsidiary, Sunway Construction Sdn Bhd, will start work immediately, with completion expected by May 2027. The client’s identity was not disclosed. These latest wins raise SunCon’s total order book to RM6.9 billion, including RM1.2 billion secured in the first two months of 2026. The group aims to replenish RM6 billion in orders this year, following a record RM5.2 billion replenishment in 2025. The new contracts come after a strong 2025 performance, with SunCon declaring a fourth interim dividend of nine sen per share, bringing the total payout to a record 50.5 sen. Full-year net profit jumped 93.6% to RM361.78 million from RM186.91 million the previous year, while revenue hit a milestone of RM5.34 billion. The group credited growth to contributions from all segments, particularly accelerated progress in advanced-technology facilities projects. Shares of SunCon closed 31 sen or 4.7% higher at RM6.90 on Wednesday, giving the company a market valuation of RM9.13 billion. The stock has risen over 21% year-to-date.

Varia Bhd has secured a significant RM155 million subcontract for upgrading works on the Pasir Gudang Highway in Johor, further strengthening its construction order book for the next three years. The award underscores the group’s growing presence in large-scale civil and infrastructure projects. The subcontract was accepted by Varia’s wholly-owned subsidiary, Pembinaan Teguh Maju Sdn Bhd, from Kemuncak Pesaka Sdn Bhd on Wednesday, according to a Bursa Malaysia filing. The scope of work includes the supply of labour, materials, equipment, and machinery required to execute and complete civil and infrastructure upgrading works along the highway. The project is scheduled to run for a duration of 36 months, commencing on Dec 3, 2025, and expected to conclude by Dec 2, 2028. The contract is anticipated to provide steady revenue streams for Varia while enhancing its portfolio of ongoing projects in the infrastructure sector. This subcontract follows Varia’s ongoing efforts to expand its construction footprint in Malaysia, particularly in key highway and transport projects, and positions the company to capitalise on future infrastructure opportunities in Johor and other states. On the stock market, Varia’s shares closed unchanged at 84 sen on Wednesday, giving the company a market capitalisation of RM363.3 million. The group highlighted that successful execution of the Pasir Gudang Highway project will not only contribute to revenue growth but also reinforce its reputation as a reliable contractor for large-scale civil works.

Kerjaya Prospek Group Bhd has secured a substantial contract worth RM502.27 million from Tanjung Pinang Development Sdn Bhd to undertake reclamation and dredging works for the Seri Tanjung Pinang (Phase 2B and 2C) Development, also known as STP2, in Penang. The contract was awarded to Kerjaya Prospek’s wholly-owned subsidiary, Future Rock Sdn Bhd, which received the official letter of award on Monday, 23 February. Tanjung Pinang Development Sdn Bhd is an indirect subsidiary of Eastern & Oriental Bhd (E&O), the developer behind the 760-acre Andaman Island development located in Tanjung Tokong, Penang. Under the agreement, Kerjaya Prospek is tasked with the execution and completion of the reclamation and dredging works, which are scheduled to commence on 11 March 2026. The project is expected to be completed before 31 March 2029, spanning a three-year timeline. The STP2 development represents a major expansion of E&O’s iconic Andaman Island project and is set to enhance the waterfront landscape of Tanjung Tokong, providing opportunities for residential, commercial, and recreational growth in the area. For Kerjaya Prospek, the contract is expected to contribute an additional revenue stream over the next three years and further strengthen the company’s existing order book. Following the announcement, Kerjaya Prospek’s shares were trading slightly lower, down 0.79% at RM2.52 during Monday’s midday session, giving the company a market valuation of approximately RM3.19 billion. With this new contract, Kerjaya Prospek continues to reinforce its position as a leading player in civil engineering and infrastructure projects in Malaysia, particularly in high-value reclamation and dredging works. The successful execution of STP2 is expected to further enhance the group’s portfolio and reputation for delivering large-scale, complex marine and coastal development projects.