KUALA LUMPUR: Shares in WZ Satu Bhd jumped 31% in early trade Friday after securing a contract worth RM243.44mil.
The counter rose 31.25%, or five sen to 21 sen with 46 million shares done. WZSatu-PR added 1.5 sen to four sen and WZSatu-WA gained 4.5 sen to 12.5 sen.
WZ Satu’s said its unit has secured a contract worth RM243.44mil for the provision of engineering, procurement, construction, and commissioning of effluent management at source project.
It said its wholly-owned subsidiary as the consortium partner, together with the consortium leader HRSB Holdings Sdn Bhd, has accepted the letter of award for the contract from Malaysia Refining Company Sdn Bhd (MRCSB).
The 27-month contract is targeted to be completed by June 30, 2023, WZ Satu said.
It expects the project to contribute to its future earnings and net assets per share for the financial year ending Dec 31, 2021 (FY21) to FY23.