Ahmad Zaki bags RM138.4m construction job at UTP

KUALA LUMPUR (Dec 22): Ahmad Zaki Resources Bhd (AZRB) has bagged a RM138.38 million contract to build two academic buildings for the faculty of geosciences and petroleum engineering, as well as a Tenaga Nasional Bhd 33kV substation, at Universiti Teknologi Petronas (UTP) in Bandar Seri Iskandar, Perak.

In a filing with Bursa Malaysia yesterday, AZRB said its wholly-owned subsidiary Ahmad Zaki Sdn Bhd has received and accepted the letter of award from Institute of Technology Petronas Sdn Bhd for the proposed project.

The contract works are expected to be completed in the next 30 months until July 15, 2020.

“The contract works are expected to contribute positively to the group’s future earnings,” said AZRB.

AZRB shares closed up one sen or 1.09% at 92.5 sen yesterday, with a market capitalisation of RM491.68 million.

This article first appeared in The Edge Financial Daily, on Dec 22, 2017.

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