news

See Hup secures RM91m contract for ECRL project

KUALA LUMPUR (June 8): See Hup Consolidated Bhd has secured a RM91.03 million contract today 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 (SHM), involves Package 2, Section 4 of the rail link.

SHM is principally involved in construction works and supply of various mechanical equipment.

In a filing with Bursa Malaysia today, See Hup said the project — which will be funded via internally generated funds or external borrowings — will commence on June 13, 2021, and has a duration of 26 months.

The group said the contract is expected to contribute positively to the revenue, future earnings and earnings per share of the group.

Moreover, it does not have material effects on the net assets and gearing of See Hup for the financial year ending March 31, 2022.

See Hup settled 25 sen or 20.33% higher at RM1.48, translating into a market value of RM119.03 million.

Get the latest news @ www.EdgeProp.my

Subscribe to our Telegram channel for the latest stories and updates 

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.
SHARE
RELATED POSTS
  1. ECRL project owner MRL issues RM350m bond
  2. Transport Ministry green-lights Selangor portion of ECRL Section C2; physical work to start in 1Q22
  3. Advancecon bags another ECRL subcontract job for RM17m