PRTASCO (5070) - Protasco wins RM77mil maintenance job
Friday, 3 April 2015
PETALING JAYA: Construction outfit Protasco Bhd has been awarded with a road maintenance job worth RM77mil in Sarawak.
In a filing with Bursa Malaysia, the company said that it had received the award from the Public Works Department to undertake maintenance works on federal roads in Sarawak.
The award comprises the construction of four overtaking lanes in the Sibu and Bintulu divisions.
Protasco said the works were expected to be completed within a 12-month period.
“The award is expected to contribute positively to the results of the group for the financial year ending Dec 31, 2015,” it said.
Protasco, which is currently facing a boardroom tussle, posted a net loss of RM47.86mil in the financial year ended Dec 31, 2014 (FY14) compared with a net profit of RM48.17mil in FY13.
The company recorded a revenue of RM1.04bil in FY14 compared with RM969.71mil previously.
There is an ongoing feud between Protasco’s two largest shareholders, executive vice-chairman and group managing director Datuk Seri Chong Ket Pen and Tey Por Yee.
Recently, Protasco filed an application to strike out proceedings initiated by Tey in court.
Both parties have been embroiled in a series of legal entanglements since September last year.
http://www.thestar.com.my
Friday, 3 April 2015
PETALING JAYA: Construction outfit Protasco Bhd has been awarded with a road maintenance job worth RM77mil in Sarawak.
In a filing with Bursa Malaysia, the company said that it had received the award from the Public Works Department to undertake maintenance works on federal roads in Sarawak.
The award comprises the construction of four overtaking lanes in the Sibu and Bintulu divisions.
Protasco said the works were expected to be completed within a 12-month period.
“The award is expected to contribute positively to the results of the group for the financial year ending Dec 31, 2015,” it said.
Protasco, which is currently facing a boardroom tussle, posted a net loss of RM47.86mil in the financial year ended Dec 31, 2014 (FY14) compared with a net profit of RM48.17mil in FY13.
The company recorded a revenue of RM1.04bil in FY14 compared with RM969.71mil previously.
There is an ongoing feud between Protasco’s two largest shareholders, executive vice-chairman and group managing director Datuk Seri Chong Ket Pen and Tey Por Yee.
Recently, Protasco filed an application to strike out proceedings initiated by Tey in court.
Both parties have been embroiled in a series of legal entanglements since September last year.
http://www.thestar.com.my
