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NewsHot Stock Ikhmas Jaya up 3.9% on subcontract job in Melaka
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Hot Stock Ikhmas Jaya up 3.9% on subcontract job in Melaka
by Cals Fri 05 Feb 2016, 08:24
- Hot Stock
[size=28]Ikhmas Jaya up 3.9% on subcontract job in Melaka
By Sangeetha Amarthalingam / theedgemarkets.com | February 4, 2016 : 10:59 AM MYTKUALA LUMPUR (Feb 4): Ikhmas Jaya Group Bhd rose 3.9% in early trade upon being awarded a RM65.3 million subcontract by Kayangan Kemas Sdn Bhd for the constuction of a bridge in Melaka.
At 10.26am, the counter rose three sen to 67 sen with 665,100 shares done for a market capitalisation of RM340.6 million.
Yesterday, Ikhmas Jaya announced that its wholly owned subisidiary Ikhmas Jaya Sdn Bhd accepted the letter of award from Kayangan Kemas for the supply of materials, labour and machinery for the bridge construction project at Interchange no. 7, including bore piling works at Peringgit Interchange and Associated Works.
The group said the 18-month subcontract is expected to commence on March 2016, and be completed by Aug 2017.
"The project is expected to contribute positively to Ikhmas' earnings and net assets for the financial year ending Dec 31, 2016," it said.
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