Hot Stock Destini rises 2.63% on RM62m Transport Ministry contract
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Hot Stock Destini rises 2.63% on RM62m Transport Ministry contract
- Hot Stock
[size=28]Destini rises 2.63% on RM62m Transport Ministry contract
By Surin Murugiah / theedgemarkets.com | June 21, 2016 : 12:45 PM MYTKUALA LUMPUR (June 21): Destini Bhd's shares rose 2.63% at mid-morning today after the aviation, marine, and oil and gas engineering firm bagged a RM62 million contract from the Transport Ministry to build a new motor trolley and road rail vehicle.
At 10.57am, Destini added 1.5 sen to 58.5 sen with 684,000 shares done.
Destini said its wholly-owned subsidiary, System Enhancement Resources & Technologies Sdn Bhd, has accepted a letter of award from the ministry for the proposed project.
In a statement yesterday, Destini said the new motor trolley and road rail vehicle are for national railway operator, Keretapi Tanah Melayu Bhd.
The contract is expected to last for two years, with completion in July 2018.
Destini managing director Datuk Rozabil Abdul Rahman also said the group is submitting tenders for more rail maintenance, repair and overhaul and manufacturing projects, and hope to clinch more contracts this year.
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