Quick take: Gagasan Nadi Cergas rises on RM385mil contract win

KUALA LUMPUR: Shares in Gagasan Nadi Cergas Bhd edged up in early trade after securing construction contracts worth RM385mil.

The integrated construction specialist added 3.17%, or one sen to 32.5 sen with over one million shares done. Year-to-date, the counter has appreciated 4.8%.

Gagasan Nadi Cergas has secured contracts worth RM385mil from Paramount Corp Bhd to build 2,005 units of high-rise affordable homes in Selangor.

The turnkey contracts involve 929 units of affordable homes in Kemuning Utama worth RM189.79 million, and 1,076 units of affordable homes in Greenwood Salak Perdana worth RM195.21mil.

It said construction is scheduled to commence in the second and third quarters of 2022 for 36- and 48-month periods.

The group said the deal is expected to contribute positively to the group's earnings and net assets per share for the year ending Dec 31, 2021.

The group has a current outstanding orderbook of RM1.7bil.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Gagasan Nadi Cergas , Paramount Corp ,


Next In Business News

Genetec says EV sector orders lifted Q1 earnings�
Singapore Airlines first-quarter loss narrows on cargo demand boost
Tough going for blue chips, Public Bank dips below key RM4
CGS-CIMB Securities launches two Shariah-compliant products
Public Mutual launches Public e-Pioneer Entrepreneur Fund
Maybank AM launches All-China Focus Equity Fund
Paying household bills automatically via Boost
Keel laying of T7 Global’s MOPU underway in China
PropertyGuru: More homeowners selling property for cash flow
Zafrul: Govt to strengthen fiscal position, broaden revenue base

Stories You'll Enjoy