Mitrajaya clinches RM68.8 mil road improvement works contract in Johor

KUALA LUMPUR (Nov 1): Mitrajaya Holdings Bhd has bagged a RM68.8 million contract for the construction and completion of road improvement works at Endau Rompin National Park, Johor from the East Coast Economic Region Development Council (ECERDC).

In a Bursa Malaysia filing on Tuesday (Nov 1), Mitrajaya said its wholly owned subsidiary, Pembinaan Mitrajaya Sdn Bhd, on Tuesday accepted and executed the letter of acceptance on the contract awarded by the ECERDC dated Oct 31.

The contract is for a duration of 120 weeks from the date for possession of the site on Nov 15 and it is expected to be completed by March 3, 2025.

"The contract is expected to contribute positively to the earnings and net assets of Mitrajaya for the financial years ending Dec 31, 2023 to 2025," it added.

Mitrajaya's share price settled 2.44% or half a sen lower at 20 sen on Tuesday, bringing the group a market capitalisation of RM155.2 million.