Mitrajaya rises 1.60% on winning RM183.44 mil job to build highway
KUALA LUMPUR (Dec 28): Mitrajaya Holdings Bhd shares rose 1.60% in early trade today after it won a contract worth RM183.44 million from concessionaire West Coast Expressway Sdn Bhd to build Section 2 of the West Coast Expressway (WCE) from the South Klang Valley Expressway interchange to the Shah Alam Expressway interchange.
At 9.14am, Mitrajaya added 2 sen to RM1.27 with 146,700 shares traded.
Mitrajaya said in its filing to Bursa Malaysia yesterday that the award was given to its wholly-owned subsidiary, Pembinaan Mitrajaya Sdn Bhd.
The WCE, which will connect the main coastal towns, including Klang, Kuala Selangor, Teluk Intan, Setiawan, Manjung and Hutan Melintang among others (which are currently only connected via a trunk road), is now being constructed and is expected to be completed in 2019.
"The contract is for [a] duration of 30 months, commencing from the date of site possession which would be advised in due course, and the contract is expected to contribute positively to Mitrajaya Group's future earnings," the group said. — theedgemarkets.com
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