KUALA LUMPUR: Shares in Mudajaya Group Bhd
rose in early trade Thursday after securing a RM195.1mil contract related to the East Coast Rail Link (ECRL) in Terengganu.
At 11.13am, Mudajaya rose 1.5 sen, or 8.11% to 20 sen with 55.74 million shares traded. Year-to-date, the counter has fallen about 15%.
Mudajaya-WA added 3.5 sen or 350% to 4.5 sen. It is currently the second most actively traded with 59.1 million shares done.
Mudajaya via its wholly owned Mudajaya Corp Bhd bagged the RM195.1mil contract for Package 3 of the ECRL project, involving the construction and completion of stations, ancillary buildings, and associated works in Terengganu.
The project is expected to be completed by 2026 with a construction period of 32 months from the date of site possession.
The contract is expected to have a positive impact on Mudajaya’s financial performance, contributing significantly to the Group’s earnings for the financial year ending December 31, 2023 and beyond.
