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Friday, December 18, 2015

Gadang wins RM185mil Pengerang contract

KUALA LUMPUR: Gadang Holdings’ unit has been awarded an RM185mil contract by Petronas at Pengerang, Johor.

In its filing with Bursa Malaysia on Thursday, the company said its unit, Gadang Engineering (M) Sdn Bhd received the award from PRPC Utilities and Facilities Sdn Bhd, a subsidiary under the Petronas group.

The contract is for civil and infrastructure works for the Storm Water East Area package at the utilities, interconnecting and offsite facilities in Pengerang. 

Gadang said the contract is for a period of 20 months and commences from the date of the award.

“The contract is expected to contribute positively to the earnings of Gadang group for the financial year ending May 31, 2016 onwards,” it said.

Shares in Gadang closed the day one sen up to RM2.17 with 1.8 million shares done at 5pm today.

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