Protasco bags RM58m road job

by **Cals** Sat 04 Apr 2015, 01:44

Protasco bags RM58m road job

By theedgemarkets.com / theedgemarkets.com | April 3, 2015 : 6:21 PM MYT

KUALA LUMPUR (Apr 3): Protasco Bhd has bagged a RM58 million contract for main civil and infrastructure works to connect the road between Jalan Klang Lama and the New Pantai Expressway (NPE).

The project was awarded by [size=14]Malaysian Resources Corp Bhd ([You must be registered and logged in to see this image.] Financial Dashboard)'s unit Gelanggang Harapan Construction Sdn Bhd.

"The works are to be completed by Sept 30, 2016. The works are expected to contribute positively to the earnings of Protasco Group ([You must be registered and logged in to see this image.] Financial Dashboard) for the financial year ending Dec 31, 2015," Protasco (fundamental: 1.15; valuation: 1.2) said in a filing with Bursa Malaysia today.

Protasco was awarded a road maintenance project yesterday for federal roads worth RM77 million by theSarawak Public Works Department on April 2, 2015.

In a separate statement today, Protasco executive vice-chairman and group managing director Datuk Seri Chong Ket Pen said the two projects are expected to contribute positively to Protasco’s year-end results.

Protasco shares closed down 0.65% at RM1.53 today, bringing a market capitalisation of RM514.88 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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