Fajarbaru wins RM27m job in SPE highway

KUALA LUMPUR (July 19): Fajarbaru Builder Group Bhd has bagged a RM27.17 million contract from Knusford Bhd linked to the Setiawangsa–Pantai Expressway (SPE) project.

The project is also known as Duta-Ulu Kelang Expressway (DUKE) Phase-3.

Fajarbaru said its wholly-owned subsidiary Fajarbaru Builder Sdn Bhd has accepted a letter of award from Knusford Construction Sdn Bhd, a wholly-owned unit of Knusford Bhd.

The job involves the construction of bridge structure works for the Setiawangsa to Melati stretch of the highway.

Fajarbaru said the tenure of the contract is seven months, ending  on Feb 21, 2020.

“The contract is expected to contribute positively to the earnings and net assets of the group for the financial year ending June 30, 2020,” it added.

Fajarbaru’s share price closed unchanged at 40 sen today, giving it a market capitalisation of RM149.11 million. The counter saw some 429,800 shares traded.