Quick take: WZ Satu up 11% on bagging Petronas Carigali contract


KUALA LUMPUR: Shares in WZ Satu Bhd rose over 11% in early trade Thursday after securing a RM120mil contract from Petronas Carigali Sdn Bhd.

The counter rose 11.63%, or 2.5 sen to 24 sen with 13 million shares traded. WZ Satu-WA added 14.29%, or 1.5 sen to 12 sen with 2.9 million shares done.

A consortium led by WZ Satu has secured a contract worth RM120mil for the provision of engineering, procurement, construction, installation and commissioning (EPCIC) from Petronas Carigali.

WZ Satu's wholly-owned WZS Misi Setia Sdn Bhd and its consortium partner UMD Energy Sdn Bhd accepted the letter of award today.

The contract is for the PM 309 Gas Ledang Redev Segment 2 development project.

The duration of the contract is 16 months and that it is targeted to be completed in October 2021.

WZ Satu said the contract is expected to contribute positively to the future earnings and net assets per share of the company for the financial year ending Aug 31, 2021 to Aug 31, 2022.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

WZ Satu , Petronas Carigali

   

Did you find this article insightful?

Yes
No

100% readers found this article insightful

Next In Business News

Malaysia Aviation Group moves forward in its restructuring exercise
Axis REIT posts lower FY20 net profit
MDEC appoints Nora Junita as new CFO
Unisem fixes price for last tranche of new shares at near record high
Petronas Dagangan drags KLCI into the red
Plenitude deal to buy Osaka hotel falls through�
Maxis recognised for eCommerce and retail solutions
Widad Business Group plans RM40b Langkawi project
MAHB gears up for pre-Covid recovery by 2023
MDEC appoints Nora Junita Mohd Hussaini as new CFO

Stories You'll Enjoy