According to Kenanga Research, the RM200mil building contract that Mitrajaya secured in February 2021, with a 24-month tenure, will likely sink the construction company into losses as steel prices remain elevated at RM3,100 to RM3,250 per tonne.
KUALA LUMPUR: Despite having substantial jobs on hand, elevated steel prices could weigh on Mitrajaya Holdings Bhd
’s earnings.
According to Kenanga Research, the RM200mil building contract that Mitrajaya secured in February 2021, with a 24-month tenure, will likely sink the construction company into losses as steel prices remain elevated at RM3,100 to RM3,250 per tonne.
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