CEO Morning Brief

Ahmad Zaki Awarded LOA for Cameron Highlands Road Plan and Bypass Project

edgeinvest
Publish date: Wed, 07 Jun 2023, 08:42 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (June 6): Ahmad Zaki Resources Bhd (AZRB) has been awarded a letter of acceptance (LOA) by the government for the Cameron Highlands road plan and bypass project to commence on June 15, 2023.

In a bourse filing on Tuesday (June 6), the group revealed that the contract value is RM122.5 million, and that it is for a duration of 42 months.

The road plan and bypass project consists of two site locations, namely : i) the McDonald’s roundabout-Time Tunnel Museum, which will bring about the upgrade of the 1km-long FT59 route; and ii) Kea Farm.

The contract is expected to contribute positively to the group’s future earnings.

AZRB shares closed half a sen or 3.57% higher at 14.5 sen, translating into a market capitalisation of RM86.7 million.

Source: TheEdge - 7 Jun 2023

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