MUHIBAH (5703) : Muhibbah bags RM135mil projects from Westports
KUALA LUMPUR (Dec 3): Muhibbah Engineering (M) Bhd secures a RM135 million contract from Westport Holdings Bhd to construct and complete the first 300 meter of Container Terminal 8 wharf and access bridges and associated works (Part A) at Westports, Pulau Indah.
Muhibbah announced to Bursa Malaysia that it had received a letter of award from Westports Malaysia Sdn Bhd, a wholly owned subsidiary of Westport Holdings today in regards to the contract.
Muhibbah said in the announcement that Westport had an option, within six months from the date of site possession for Part A, to award to Muhibbah the second 300 meter of Container Terminal 8 wharf (Part B) which worth RM256 million inclusive of Government Service Tax.
"The possession of Part A is scheduled in this month and is expected to be completed within 12 months from the date of site possession," it said.
The Part B, Muhibbah said, if awarded will be completed by third quarter of 2016.
Muhibbah said the contract is expected to contribute positively to the earnings and net assets of the group for the future financial years.
Muhibbah's share price fell five sen or 2.44% at RM2, giving it a market capitalisation of RM858.46 million. Some 1.17 million shares were changed hands throughout the trading session.
http://www.theedgemarkets.com
KUALA LUMPUR (Dec 3): Muhibbah Engineering (M) Bhd secures a RM135 million contract from Westport Holdings Bhd to construct and complete the first 300 meter of Container Terminal 8 wharf and access bridges and associated works (Part A) at Westports, Pulau Indah.
Muhibbah announced to Bursa Malaysia that it had received a letter of award from Westports Malaysia Sdn Bhd, a wholly owned subsidiary of Westport Holdings today in regards to the contract.
Muhibbah said in the announcement that Westport had an option, within six months from the date of site possession for Part A, to award to Muhibbah the second 300 meter of Container Terminal 8 wharf (Part B) which worth RM256 million inclusive of Government Service Tax.
"The possession of Part A is scheduled in this month and is expected to be completed within 12 months from the date of site possession," it said.
The Part B, Muhibbah said, if awarded will be completed by third quarter of 2016.
Muhibbah said the contract is expected to contribute positively to the earnings and net assets of the group for the future financial years.
Muhibbah's share price fell five sen or 2.44% at RM2, giving it a market capitalisation of RM858.46 million. Some 1.17 million shares were changed hands throughout the trading session.
http://www.theedgemarkets.com
