Quick take: See Hup hits limit-up in early trade

KUALA LUMPUR: Shares in See Hup Consolidated Bhd hit limit-up in early trade Friday after securing a RM99.01mil East Coast Rail Link (ECRL) job.

The counter, one of the top gainers on Bursa Malaysia, jumped 31.58%, or 30 sen to RM1.25.

See Hup has secured a RM99.01mil contract from China Communications Construction (ECRL) Sdn Bhd to construct part of the subgrade works for the ECRL project.

China Communications is the contractor of the mega project.

See Hup said the works will be undertaken by its 51%-owned unit, SH Moment Builder Sdn Bhd (SHM).

The group said the project will commence on March 1 and has a duration of 28 months.

It will be funded via internally-generated funds and external borrowings.

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