Quick take: Ho Hup shares up on KVDT contract

KUALA LUMPUR: Shares in Ho Hup Construction Co Bhd rose over 4% in early trade after securing a RM137mil contract for upgrading works under phase two of the Klang Valley Double Track (KVDT) project.

The construction engineering company rose 4.21%, or two sen to 49.5 sen, its highest in almost two weeks with 1.26 million shares traded.

The group said the 36-month contract, awarded by Dhaya Maju Infrastructure (Asia) Sdn Bhd, entails the design, construction and maintenance of the proposed upgrading of Keretapi Tanah Melayu Bhd's stations and facilities.

Ho Hup Group CEO Datuk Derek Wong Kit-Leong said this was the third contract win for the group in the last three months.

“We believe the group’s expertise and track record in rail infrastructure projects put us in a good position to secure more contracts in the coming months, ” he said.

“With the government’s plan to speed up the implementation of rail infrastructure projects to create multiplier effects and spin-offs economic activities that are dearly needed at this point of time, we will be positioning our bids competitively, ” he added.

Ho Hup’s tender book stands at RM2.46bil currently, of which RM814mil are in rail-related projects.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 0
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Ho Hup , KVDT , Klang Valley Double Track


Next In Business News

Wall St set for higher open as banking crisis fears ebb
Credit Suisse still helping wealthy dodge U.S. taxes, Senate Committee finds
Tengku Zafrul: Asean, China must cooperate to mitigate risks, unlock economic gains
Ringgit closes lower on profit-taking
MKH to list subsidiary on Bursa Malaysia main market
Kim Loong’s 4Q net profit rises 19% to RM37mil
Super Racer Limited is now Reach Energy’s major shareholder
TNB'S power generation unit issues RM2bil sustainability sukuk wakalah
BDB acquires companies for RM13mil
Alibaba’s US$32bil day signals breakups for China tech

Others Also Read