Moody's outlook on the Korean banking system has been negative since May 2016.
KUALA LUMPUR: Mudajaya Group Bhd
has bagged a RM810mil contract from Consortium Zenith BUCG Sdn Bhd for road projects on Penang island.
The infrastructure company said on Friday it had received the letter of award for package two which involves building the Ayer Itam to Lebuhraya Tun Dr Lim Chong Eu by-pass of Penang major roads and Third Link project in the state.
“The project is targeted to be completed in 36 months from the date of site possession, which is expected to be in the second half of 2017,” it said.
Mudajaya said the contract sum for the project will be paid via milestone payments according to work done. The details of the contract will be finalised within three to six months.
“The project is expected to contribute positively to the group’s earnings and net assets from financial year 2017 and onwards,” it said.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
