Mitrajaya bags RM230 mil public apartments contract at Putrajaya

KUALA LUMPUR (Jan 28): Mitrajaya Holdings Bhd clinched today a contract worth RM229.87 million to build three blocks of 20-storey public apartments at Precint 5, Putrajaya.

Based on Mitrajaya (fundamental: 1.5; valuation: 1.8)’s announcement to Bursa Malaysia this evening, its wholly-owned subsidiary Pembinaan Mitrajaya Sdn Bhd had accepted the contract from Putrajaya Homes Sdn Bhd.

The contract, which is for a duration of 36 months, comprises the building of 1,062 units,coupled with two blocks of multi-level parking and common facilities. It is expected to be completed by February 2018.

Mitrajaya said the project is expected to contribute positively to its future earnings at group level.

The company’s share price rose eight sen or 7.27% to RM1.18 today, with over 6.98 million shares traded, giving it a market capitalisation of RM425.63 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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