AZRB rises on RM138m Universiti Teknologi Petronas construction job

KUALA LUMPUR (Dec 22): Ahmad Zaki Resources Bhd (AZRB) rose as much as five sen or 5% to 97.5 sen after the group announced it had secured a RM138.38 million construction job at Universiti Teknologi Petronas.

As at 10:09am, AZRB shares pared gains at 95 sen with 122,000 shares traded.

Yesterday, AZRB said it had accepted the letter of award from Institute of Technology Petronas Sdn Bhd to build two academic buildings and a Tenaga Nasional Bhd substation at Universiti Teknologi Petronas in Bandar Seri Iskandar, Perak.

AZRB said: "The contract works is expected to be completed in the next 30 months until July 15, 2020."

"The contract works is expected to contribute positively to the group's future earnings," the company added. — theedgemarkets.com

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