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Hot Stock Muhibbah rises 2.16% in thin trade on RM88m contract
by Cals Fri 15 Apr 2016, 00:48
- Hot Stock
[size=28]Muhibbah rises 2.16% in thin trade on RM88m contract
By Surin Murugiah / theedgemarkets.com | April 14, 2016 : 9:41 AM MYTKUALA LUMPUR (April 14): Muhibbah Engineering (M) Bhd shares rose 2.16% in thin trade after its joint venture with France's Vinci Group has awarded a US$23 million (RM88 million) contract to its construction unit to build a new domestic terminal at the Phnom Penh Airport in Cambodia, which will cater for the future growth of the domestic traffic.
At 9.12am, Muhibbah rose 5 sen to RM2.37 with 3,000 shares done.
The construction unit is owned 70% by Vinci Construction Grands Projets and 30% by Muhibbah.
Muhibbah said construction work on the new domestic terminal will commence immediately and is expected to be completed by the fourth quarter of 2017.
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