KUALA LUMPUR (Feb 19): Pesona Metro Holdings Bhd has bagged a contract worth RM408.8 million from Malaysian Resources Corp Bhd (MRCB) for superstructure works for a mixed development in Seksyen 98, here.
In a filing to Bursa Malaysia today, Pesona Metro's wholly-owned subsidiary Pesona Metro Sdn Bhd has accepted the letter of acceptance from MRCB's wholly-owned subsidiary MRCB Builders Sdn Bhd.
The works involve three blocks of apartments with 734 units, eight floors of parking as well as six units of retail space with two floors of basement parking.
The project will be for 30.5 months, commencing on Feb 18, said Pesona Metro.
Pesona Metro noted that the project is expected to contribute positively to the group's earnings and enhance its net assets for the duration of the project.
"The project is expected to be funded via internal generated funds and accordingly, has no effect on the gearing of the group," said Pesona Metro.
Shares of Pesona Metro closed 1.5 sen or 6.82% higher at 23.5 sen, for a market capitalisation of RM163.31 million. Over the past year, the counter fell 36.66% from 37 sen.
MRCB should be the STAR stock under PH gov. Fundamentally is very strong after receiving RM2,4bil from gov. MRCB-WB is worth a look after mother share has been uptrend...
The potential revival of the East Coast Rail Link (ECRL) will not only benefit local construction players, but there will also be positive spillover effects on building material companies in Malaysia.
According to UOB Kay Hian, for one, local contractors would gain if the ECRL project is resumed as the government had reiterated its preference to have greater participation from local construction companies under a new deal as compared to the previous structure, which was dominated by Chinese contractors.
Other potential winners, it said, would include Sunway Construction Group Bhd, IJM Corp Bhd, Malaysian Resources Corp Bhd and WCT Holdings Bhd, given their proven track records for the construction of rail-work jobs.
I always wondering why Gamuda is the target???Luckily Mrcb is different, luckilyEDL sold....MRCB shouldn’t be affected while LRT3 firmly back on track together with the rest of the project MRCB is still a good buy!
If good why QR not out? You got read MRCB set up oversea subsidiary?
value_invest MRCB should be the STAR stock under PH gov. Fundamentally is very strong after receiving RM2,4bil from gov. MRCB-WB is worth a look after mother share has been uptrend... 21/02/2019 15:31
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KUALA LUMPUR (Feb 19): Pesona Metro Holdings Bhd has bagged a contract worth RM408.8 million from Malaysian Resources Corp Bhd (MRCB) for superstructure works for a mixed development in Seksyen 98, here.
In a filing to Bursa Malaysia today, Pesona Metro's wholly-owned subsidiary Pesona Metro Sdn Bhd has accepted the letter of acceptance from MRCB's wholly-owned subsidiary MRCB Builders Sdn Bhd.
The works involve three blocks of apartments with 734 units, eight floors of parking as well as six units of retail space with two floors of basement parking.
The project will be for 30.5 months, commencing on Feb 18, said Pesona Metro.
Pesona Metro noted that the project is expected to contribute positively to the group's earnings and enhance its net assets for the duration of the project.
"The project is expected to be funded via internal generated funds and accordingly, has no effect on the gearing of the group," said Pesona Metro.
Shares of Pesona Metro closed 1.5 sen or 6.82% higher at 23.5 sen, for a market capitalisation of RM163.31 million. Over the past year, the counter fell 36.66% from 37 sen.