KUALA LUMPUR (Sept 18): Shares in WCT Holdings Bhd rose 4.07% at mid-morning today after it accepted a letter of award (LOA) worth about RM1.77 billion for a project forming part of the Pavilion Damansara Heights commercial development.
At 10.26am, WCT rose 3.5 sen to 89.5 sen with 3.56 million shares traded.
In a filing to Bursa Malaysia today, WCT said its unit WCT Bhd had on Sept 14 accepted the LOA from Impian Ekspresi Sdn Bhd (IESB) fo the project.
It said the scope of works under the Contract includes the completion of 9 blocks of office tower and 3 blocks of service apartment on a podium block comprising retail space, mezzanine floors and works to lower ground floor and basement car park.
WCT said the works under the contract are expected to be completed within a period of 38 months, adding that the Contract is expected to commence in September 2018.
WCT said IESB is a company in which WCT executive chairman Tan Sri Lim Siew Choon has an indirect equity interest and that both Lim and WCT managing director Datuk Lee Tuck Fook sit on the Board of IESB. — theedgemarkets.com
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