Share
KUALA LUMPUR (Jan 9): Shares of Ekovest Bhd gained 1.25% this morning after the company, together with its joint-venture (JV) partner Samling Resources Sdn Bhd, bagged a RM2.11 billion contract for package WPC-02 of Phase 1 works of the Pan Borneo Highway in Sarawak.
At 9.11am, Ekovest gained 3 sen to RM2.43 with 805,500 shares traded.
In a bourse filing, Ekovest said its wholly-owned subsidiary Ekovest Construction Sdn Bhd has entered into a JV and shareholders agreement with Samling Resources for the proposed project.
The JV company, Samling-Ekovest JV Sdn Bhd, would be held on a 70:30 ratio by Samling Resources and Ekovest respectively, and be incorporated as the vehicle for the parties to implement the project.
Samling Resources will sub-contract the project in its entirety on a back-to-back basis to Samling-Ekovest at the same price at which the project was awarded to Samling Resources.
Ekovest said the agreement was an opportunity for both parties to co-operate and leverage on each other’s strength and expertise. — theedgemarkets.com
hero.jpg?GPem8xdIFjEDnmfAHjnS.4wbzvW8BrWw)
TOP PICKS BY EDGEPROP
Seksyen 5, Petaling Jaya
Petaling Jaya, Selangor
ALIX Residences @ Kiara North
Mont Kiara, Kuala Lumpur
Setia Warisan Tropika (Belladonna)
Sepang, Selangor
Setia Marina 2, Setia Eco Glades
Cyberjaya, Selangor
Charms of Nusantara, Setia Eco Glades
Cyberjaya, Selangor
Charms of Nusantara, Setia Eco Glades
Cyberjaya, Selangor
