Protasco associate lands ten-year job in Sarawak

KUALA LUMPUR (Dec 9): Protasco Bhd's 30%-owned associate company PJP Barisan HCM JV Sdn Bhd has secured a ten-year contract from the Public Works Department.

In a bourse filing today, Protasco said the performance-based contract for the long-term management and maintenance of state roads in Sarawak, Package 3 (Mukah Division) was effective from Jan 1, 2020 until Dec 31, 2029.

Protasco said the contract, worth approximately RM24.6 million per annum, is subject to review every three years with a maximum increase of 7.2% per revision.

At the midday break today, Protasco shares fell 1.49% or 0.5 sen to 33 sen, for a market capitalisation of RM163.48 million.