Quick take: Minetech rises 5.2% on new contract in Sarawak

KUALA LUMPUR: Shares in Minetech Resources Bhd rose over 5% in early trade Monday after securing a contract from Valsa (Sarawak) Sdn Bhd.

The engineering services company added 5.26%, or one sen to 20 sen, its highest in about three weeks with over 12 million shares traded.

Minetech’s 55%-owned subsidiary Konsep Khas Sdn Bhd has accepted a letter of award (LOA) from total communications infrastructure solutions provider Valsa for a sub-contract work.

The work involves supplying labour, materials and machinery for the designing, constructing, completing, testing and commissioning of telecommunication structures in Sarawak, an initiative under the Malaysian Communications and Multimedia Commission’s universal service provisions.

It said the contract value and commencement date of the sub-contract work will be announced upon the signing of the agreement.

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