Protasco wins RM25mil per annum Government contract

KUALA LUMPUR: Protasco has been awarded a Government contract to provide forensic engineering services on Malaysian slopes and slope related structures. 

In its filing with Bursa Malaysia on Wednesday, Protasco said its unit, Kumpulan Ikram Sdn Bhd received a letter of appointment from the Ministry of Works Malaysia to provide forensic engineering services on slopes and slope related structures. 

The contract is for a period of three years with the option to renew for a further two years. Protasco said the contract price is estimated at RM25mil per annum, subject to actual consumption by the Government. 

“Under the Agreement, the services to be provided by Ikram, with effect from Jan 1, 2016 shall cover all slopes failure throughout Malaysia except for Federal roads, roads that are currently under privatised concession agreements (toll roads) and those pending completion by the Government or Government agencies,” the company said.

It added that the contract would positively contribute to its future earnings and net assets. 

Shares in Protasco were one sen higher to RM1.61 at 12.30pm today.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Did you find this article insightful?


Next In Business News

Widad bags 5-year contract to manage ferry terminals in Perlis, Kedah
Trading volume on Bursa at 2-week high of 14b shares
Activist funds scupper Singapore firm's merger in rare victory
Oil prices jump after Opec+ inks supply compromise
Boilermech sees 20.64m shares traded off-market
Japan Credit Rating Agency affirms Maybank A ratings
Asian shares vault to record high as US stimulus seen within reach
China's exports, imports seen expanding at faster pace in November
Retirement savers to benefit from PRS tax relief extension
Asia Digital Bank to enter digital finance industry

Stories You'll Enjoy