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See Hup secures RM99m ECRL contract

KUALA LUMPUR (Jan 27): See Hup Consolidated Bhd has secured a RM99.01 million contract from China Communications Construction (ECRL) Sdn Bhd to construct part of the subgrade works for the East Coast Rail Link (ECRL).

The contract, to be undertaken by the group’s 51%-owned subsidiary SH Moment Builder Sdn Bhd, involves Package 1, Section 4 of the rail link, See Hup told Bursa Malaysia in a filing today.

The group said the project will commence on March 1 and has a duration of 28 months. It will be funded via internally generated funds and external borrowings.

“The award is expected to contribute positively to the future earnings and earnings per share of the group,” it said.

See Hup’s share price closed five sen or 5.56% higher at 95 sen today, valuing the group at RM76.05 million.

 

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