Malaysian civil engineering company Ekovest has secured a MYR1.18bn ($366.5m) road contract in the country, through its 70%-owned subsidiary Konsortium Lebuhraya Utara-Timur (KL).

Under the new contract, Ekovest will act as the master contractor for the design, construction, safety, landscaping, and maintenance of temporary and permanent construction works.

It will also provide signage works for Duta-Ulu Klang Expressway (DUKE) phase two, an expressway project in capital city, Kuala Lumpur.

"The new contract will have positive impact."

The latest project will run for a period of three years, with completion expected at the end of year 2016.

Ekovest stated in a stock exchange filing that the contract is subject to normal construction risks in which the company and its subsidiaries are already exposed to.

According to the Malaysian builder, the new contract will have positive impact on its furture earnings.

The company has also issued bonds worth up to MYR2.48bn ($768.2) to fund a part of the construction of the 18km-long expressway.

DUKE connects the New Klang Valley Expressway’s Jalan Duta Interchange to Taman Hillview Interchange on the Kuala Lumpur Middle Ring Road 2 in Ulu Klang.

The construction of the expressway began in mid-2006.