KUALA LUMPUR, Aug 16 ― Protasco Bhd shares on Bursa Malaysia went up in early trade today after the company secured a road upgrading contract in Kedah from KI Engineering Sdn Bhd valued at RM299.2 million.
At 10.34am, the counter rose 1.0 sen, or 5.26 per cent, to 20 sen with 755,000 shares changing hands.
In a filing with Bursa Malaysia yesterday, Protasco said the contract was secured through its wholly owned subsidiary, HCM Engineering Sdn Bhd, following a memorandum of agreement entered between HCM Engineering and KI Engineering.
“Under the agreement, HCM Engineering shall share 70 per cent of the profit from the project and shall act as the implementer to undertake the overall construction and financing of the project until its completion by Jan 27, 2026,” it said. ― Bernama
