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NewsHot Stock Zelan rises 4.76% on RM37.78m construction contract
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Hot Stock Zelan rises 4.76% on RM37.78m construction contract
by Cals Fri 11 Mar 2016, 01:29
- Hot Stock
[size=28]Zelan rises 4.76% on RM37.78m construction contract
By Sangeetha Amarthalingam / theedgemarkets.com | March 10, 2016 : 12:10 PM MYTKUALA LUMPUR (March 10): Zelan Bhd rose 4.76% on its contract to build the temporary sale office construction for Bukit Bintang City Centre (BBCC) for the cost of RM37.78 million.
At 11.18am, the counter grew one sen to 22 sen with 2.09 million shares done, for a market capitalisation of RM185.87 million.
Yesterday, Zelan, which said the contract value was subject to any price fluctuation, announced that its unit Zelan Construction Sdn Bhd had accepted the letter of award from BBCC Development Sdn Bhd.
The contract, Zelan said, was for the main building works of the proposed development of a four-storey temporary sales office, show unit and one-storey sub-basement here.
The duration of the works is for nine months, commencing on March 9 and to be completed on Dec 8.
"The works are expected to contribute positively to the earnings of Zelan Group for the financial year ending Dec 31, 2016 (FY16)," it said.
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