WZ Satu gets RM101.8m subcontract job under Gemas-JB double track project

KUALA LUMPUR (April 29): WZ Satu Bhd’s unit was awarded with a RM101.84 million subcontract job for the construction of bridges at Section 4 from Renggam to Kulai, for the electrified double track project from Gemas to Johor Bahru.

In a filing with Bursa Malaysia, the group said its wholly-owned subsidiary WZS BinaRaya Sdn Bhd has accepted the letter of award from SIPP-YTL JV, and that the contract period starts today, to be completed on or before Jan 21, 2020.

The group said WZS BinaRaya’s scope of works covers substructures to superstructures, which includes casting pier, cross head, precast beam, deck slab and associated works.

It anticipates the award to contribute positively to its future earnings and net assets per share for the financial years ending Aug 31, 2019 (FY19) to Aug 31, 2020 (FY20).

WZ Satu’s share price closed unchanged at 25 sen today, giving it a market capitalisation of RM155.06 million. Year to date, the stock has climbed 31.6% from when it was trading around 19 sen.

— theedgemarkets.com

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