Ho Hup lands RM137m contract under KVDT project

KUALA LUMPUR (Aug 24): Ho Hup Construction Co Bhd has bagged a RM137 million contract for upgrading works under phase two of the Klang Valley Double Track (KVDT) project.

The group said the three-year contract, awarded by Dhaya Maju Infrastructure (Asia) Sdn Bhd, entails the design, construction and maintenance of the proposed upgrading of Keretapi Tanah Melayu Bhd's stations and facilities.

"The KVDT project is the third contract win for the group in the last three months. We believe the group's expertise and track record in rail infrastructure projects put us in a good position to secure more contracts in the coming months," the group said in a filing with Bursa Malaysia.

"With the government's plan to speed up implementation of rail infrastructure projects to create multiplier effects and spin-off economic activities that are dearly needed at this point of time, we will be positioning our bids competitively," added Ho Hup group chief executive officer Datuk Derek Wong Kit-Leong.

Currently the group's tender book stands at RM2.46 billion, of which RM814 million is in rail-related projects.

In May, Ho Hup secured two rail-related contracts totalling RM102.5 million from China Communications Construction (ECRL) Sdn Bhd for work packages in the East Coast Rail Link (ECRL) project. Work on the ECRL project commenced in June and is expected to be completed in 30 months.

Wong said the ECRL and KVDT contracts are expected to contribute positively to the revenue, earnings and net assets of Ho Hup group, and are not expected to have a material effect on the group's gearing for the financial year ending Dec 31, 2020 until the expiry of the contracts.

Ho Hup's share price closed unchanged at 47.5 sen today, for a market capitalisation of RM195.88 million.

EdgeProp Malaysia Virtual Property Expo 2020 (VPEX 2020) is happening now! Find out more exclusive projects and exciting deals here

Stay safe. Keep updated on the latest news at
Click here for more property stories

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
  1. Construction news flow to slow down in October — CGS-CIMB
  2. Covid-19 alert for passengers of myBAS from KLIA2-Nilai Sentral on Sept 30
  3. Sunsuria to raise up to RM500m via sukuk issuance