Cahya Mata Sarawak shares up after securing long-term road maintenance contract

KUALA LUMPUR, Dec 9 — Cahya Mata Sarawak Bhd shares improved in the morning session today after its 51 per cent-owned subsidiary, PPES Works (Sarawak) Sdn Bhd, secured a 10-year road maintenance contract from Sarawak State Government.

At 11.37am today, Cahya Mata Sarawak shares edged up three sen to RM2.45 with 538,400 shares changing hands.

Cahya Mata Sarawak in a filing with Bursa Malaysia on Friday said the contract was for maintenance of roads in Kuching, Serian, Samarahan, Kapit, Sibu and Sarikei effective Jan 1 next year.

“The total road length covered under the contract is 3,300.65 km, while the contract is currently worth RM99.22 million per annum,” it said. — Bernama