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WCT bags RM267 mil contract from Petronas

KUALA LUMPUR (Oct 27): WCT Holdings Bhd has clinched a procurement, construction and commissioning (PCC) of civil and infrastructure works worth RM267 million from PRPC Utilities and Facilities Sdn Bhd, a subsidiary of Petroliam Nasional Bhd (Petronas).

In a filing with Bursa Malaysia today, WCT said its wholly-owned subsidiary, WCT Bhd, received a letter of award from PRPC yesterday, for the PCC job.

The PCC works are for Petchem Interconnecting and 6900 Area, and Petchem Interconnecting South Area, which are expected to be completed in 31 months from the effective date.

Under the contract, WCT is tasked to complete the earth works, concrete works, storm water drainage system, roads and paving, miscellaneous works, underground piping, earthing networks, procurement, temporary works and utilities.  

"The contract is expected to contribute positively to the group's future earnings and net assets," it added.

Shares in WCT closed down two sen or 1.45% at RM1.36 today, for a market capitalisation of RM1.62 billion. -- theedgemarkets.com

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