Citaglobal clinches RM51 mil riverwall, infrastructure works in Sarawak

• Citaglobal said the contracts are expected to contribute positively to its future earnings and net assets per share for the financial year ending Dec 31, 2024, (FY2024) until FY2026.

KUALA LUMPUR (Sept 10): Citaglobal Bhd (KL:CITAGLB) has bagged two construction jobs worth RM50.95 million, including one related to the Kuching Urban Transportation System.

The first contract is a 20-month job to build a riverwall from Kampung Lintang to Kampung Tupong in Kuching, Sarawak. It received the sub-contract from NL Builder Sdn Bhd, said Citaglobal in a bourse filing on Wednesday.

The second contract, worth RM31.6 million, is for the construction of infrastructure works for the Kuching Urban Transportation System project’s redline from Kuching Sentral to Pending. Also a 20-month job, the contract was awarded by Avos (Malaysia) Sdn Bhd. 

Citaglobal said the contracts are expected to contribute positively to its future earnings and net assets per share for the financial year ending Dec 31, 2024, (FY2024) until FY2026.

Citaglobal’s share price dipped half a sen or 0.5% lower to close at 95 sen on Wednesday, bringing the group a market capitalisation of RM404 million. Year-to-date, the stock has fallen 29%.

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