8 August 2016 - Construction company Protasco Bhd, has bagged a contract worth RM315.8 million for the construction of a stretch of the Sungai Besi-Ulu Kelang Expressway (SUKE).
According to Bursa Malaysia announcement, Protasco said its subsidiary, HCM Engineering Sdn Bhd, will undertake the contract jointly with Hatimuda Sdn Bhd on a 40:60 basis.
Following 5 August 2016 The Edge report, shares of Protasco fell 3 sen or 1.94% to close at RM1.52, giving the company a market capitalisation of RM513.18 million. As of 8 August 2016, share price closed at RM1.58, up by 6 sen.
The controversial MD Chong Ket Pen was recently shown up again a serious of Public Relation shows, repeating polish of old stories which market believes he and his team may cook up something to cover up Chong's wrong doing, again, by tarnishing his scapegoat Ooi Kwok Aun and Tey Por Yee yet again. Market perceive serious governance issue in Protasco by allowing abuse of public money and resources for Chong's personal agenda may eventually harm Protasco investors.
"Flood media with polishing news and pretend to do a good job doesn't mean a serial killer is clean up and forgoten. He is still criminal", commented a senior journalist.
KUALA LUMPUR (Aug 5): Protasco Bhd has bagged a contract worth RM315.8 million for the construction of a stretch of the Sungai Besi-Ulu Kelang Expressway (SUKE).
In a filing with Bursa Malaysia today, Protasco said its subsidiary, HCM Engineering Sdn Bhd, will undertake the contract jointly with Hatimuda Sdn Bhd on a 40:60 basis.
The contract was offered by Turnpike Synergy Sdn Bhd, a subsidiary unit of Projek Lintasan Kota Holdings Sdn Bhd, which is wholly owned by Permodalan Nasional Bhd.
Protasco did not identify the stretch of the highway it will be constructing, but said the work is expected to be completed within a 30-month period ending Feb 28, 2019.
It expects the contract to have a positive impact on its net assets and earnings for the financial year ending Dec 31, 2016.
Yesterday (Aug 4), two other groups announced they have won contracts to undertake the construction of separate portions of SUKE.
Jaks Resources Bhd's wholly-owned unit Jaks Sdn Bhd bagged a RM508.5 million package, while a consortium comprising Zelan Bhd's wholly-owned subsidiary Zelan Construction Sdn Bhd and Hasrat Sedaya Sdn Bhd won another package worth RM257.61 million.
Shares of Protasco fell 3 sen or 1.94% to close at RM1.52, giving the company a market capitalisation of RM513.18 million.
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