Grand Hoover bags three construction jobs worth RM374 mil from Widad Group

KUALA LUMPUR (Jan 8): Grand Hoover Bhd (GHB) has bagged three construction contracts worth a total of RM373.83 million from Widad Group Bhd’s unit, Widad Builders Sdn Bhd, in Kelantan and Kedah.

The contracts were awarded to Grand Hoover's wholly-owned Pembinaan ATT Sdn Bhd (formerly known as Hoover Property Development Sdn Bhd), according to Grand Hoover’s filing.

The first job is a sub-contract worth RM188.8 million for the Kota Bharu-Kuala Krai highway construction project. The second is a RM110.02 million sub-contract to upgrade the Bukit Selambau water treatment plant in Kedah; the third is a RM75.01 million job to upgrade the Sungai Limau water treatment plant, also in Kedah.

The projects, which commenced from Jan 6, 2022, are expected to contribute positively to GHB's group earnings, it said.

Grand Hoover is principally an investment holding company with subsidiaries engaged in property development, construction, as well as the trading and distribution of sanitary wares, pipe fittings and ceramic tiles.

The company's shares closed 18.28% or 17 sen higher at RM1.10 on Friday (Jan 7), giving it a market capitalisation of RM98.49 million.

Widad’s shares also closed higher by half a sen or 1.35% at 37.5 sen, for a market value of RM1.03 billion.

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