Protasco MD buys more shares

KUALA LUMPUR: Protasco Bhd’s managing director Datuk Seri Chong Ket Pen has acquired more of the construction company’s shares in a personal capacity.

He had acquired 152,200 shares in two tranches at prices of RM1.46 and RM1.51 on Jan 18 and 14 respectively.

Following the acquisitions, he holds some 75.23 million shares in the company.

In December, he had acquired 607,100 shares in the company in two tranches.

Protasco shares gained 4 sen to close at RM1.50 on Tuesday with a thin volume of 166,000 shares traded. 

Protasco’s unit Kumpulan Ikram Sdn Bhd had last year in December received a letter of appointment from the Works Ministry to be a service provider of forensic engineering services on slopes and slope related structures for three years.

The contract comes with an option to renew for a further period of two years, at an estimated contract price of RM25mil per year.

Protasco has been embroiled in a shareholders’ tussle, which saw two directors voted out of the board at a recent EGM.

This incident came after allegations of a questionable investment in an Indonesian oil and gas company.
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