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Friday, 16 June 2017

(The Edge Financial Daily) Protasco bags RM174.4m infrastructure contract

KUALA LUMPUR: Protasco Bhd has bagged a RM174.4 million infrastructure work contract from Central Spectrum (M) Sdn Bhd, a subsidiary of Kumpulan Hartanah Selangor Bhd.

The deal was secured via its subsidiary KPS-HCM Sdn Bhd and is for the development of Phase 3C of the Pulau Indah Industrial Park, Protasco said in a filing with Bursa Malaysia yesterday.

“The works are expected to be completed within 18 months, commencing [on] July 5, 2017 to Jan 5, 2019, and are expected to contribute positively to the earnings of Protasco for the financial year ending Dec 31, 2017,” it said.

Shares in Protasco closed unchanged at RM1.09 yesterday with 1.67 million shares traded, giving the group a market capitalisation of RM462.92 million.