Protasco bags RM299mil Kedah contract


“Under the agreement, HCM Engineering shall share 70% of the profit from the project,” it said in a filing with Bursa Malaysia. It will contribute positively to group earnings.

KUALA LUMPUR: Protasco Bhd’s wholly owned subsidiary, HCM Engineering Sdn Bhd, has bagged a road upgrading contract in Kedah from KI Engineering Sdn Bhd valued at RM299.2mil.

Protasco said this is following a memorandum of agreement entered between HCM Engineering and KI Engineering to regulate the relationship with each other and set out their respective rights, duties and obligation in order to execute the contract.

“Under the agreement, HCM Engineering shall share 70% of the profit from the project,” it said in a filing with Bursa Malaysia. It will contribute positively to group earnings. — Bernama

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