Salcon unit secures contract to provide transportation services to Appraisal Property Management

Subang Jaya, 1 November 2022 - Salcon Berhad (“Company”) today announced that its subsidiary Eco-Coach & Tours (M) Sdn Bhd (“ECT”), a 51.3% owned subsidiary of Salcon Capital Sdn Bhd, which in turn is a wholly-owned subsidiary of the Company has entered into an agreement with Appraisal Property Management Sdn Bhd (“APM” or “Principal”) to provide safe and punctual transportation services to the employees of APM based clients.

"We are delighted to have entered into agreement with APM as this signing represents a significant milestone for Salcon as part of our strategic initiative and testament to our reliable commuting services provided since 2011,” said Vergis Matthews, Chief Executive Officer of ECT.

The services will commence from 1 March 2023 till 31 December 2026 and is expected to reflect positively towards the earnings and net assets of Salcon Group for the financial years ending 31 December 2023 to 31 December 2026. The renewal of the contract will be dependent on the good performance of ECT, savings proposed by ECT and pricing to be agreed between ECT and APMSB.