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Mudajaya falls 5.31% on withdrawing from RM810m contract

Mudajaya falls 5.31% on withdrawing from RM810m contract

Mon, 13 Nov 2017
12:03 pm

KUALA LUMPUR (Nov 13): Shares in Mudajaya Group Bhd fell 5.31% in thin traded this morning after announced last Friday that it is withdrawing from RM810 million contract it was awarded last year by Consortium Zenith Construction Sdn Bhd for construction work in Penang over "uncertainties" of the project.

At 9.05am, Mudajaya fell 6 sen to RM1.07 with 28,000 shares done.

Under the deal, Mudajaya was supposed to build major roads under Package 2 (the Ayer Itam to Lebuhraya Tun Dr Lim Chong Eu by-pass) and the Third Link Project in Penang, which it bagged via its wholly-owned unit Mudajaya Corp Bhd in December 2016. — theedgemarkets.com

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