KUALA LUMPUR, Jan 29 ― See Hup Consolidated Bhd’s share price on Bursa Malaysia was traded higher in the early session on Friday after the group announced that it has bagged a RM99.01 million contract from China Communications Construction (ECRL) Sdn Bhd on Wednesday.
As at 9.40am, the counter rose 30 sen to RM1.25, with 149,400 shares changing hands.
In a filing with Bursa Malaysia on Wednesday, See Hup said the contract, which will be undertaken by its 51 per cent-owned unit, SH Moment Builder Sdn Bhd (SHM), is for the construction of part of the subgrade works for the East Coast Rail Link (ECRL) project.
China Communications is the contractor of the mega project.
See Hup said the letter of acceptance that SHM accepted on Friday specified that the project involved the construction and completion of part of the subgrade works of Package 1, Section 4 of the ECRL.
“The 28-month project will commence on March 1, 2021, with internally generated funds and/or external borrowings,” it said. ― Bernama
