Protasco bags RM174.4 mil infrastructure contract

KUALA LUMPUR (June 15): Protasco Bhd has bagged a RM174.4 million  infrastructure works contract from Central Spectrum (M) Sdn Bhd, a subsidiary of Kumpulan Hartanah Selangor Bhd.

The deal was secured via its subsidiary KPS-HCM Sdn Bhd and is for the development of Phase 3C in Pulau Indah Industrial Park, Protasco said in a filing with Bursa Malaysia today.

“The works are expected to be completed within 18 months from July 5, 2017 till Jan 5, 2019 and are expected to contribute positively to the earnings of Protasco for the financial year ending Dec 31, 2017,” it said.

Shares in Protasco closed unchanged at RM1.09  with 1.67 million shares traded, giving the group a market capitalisation of RM462.92 million. — theedgemarkets.com

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