Gadang’s share price up on contract to build Cyberjaya hospital

PETALING JAYA: Gadang Holdings Bhd's share price rose 0.81% this morning after it bagged a RM475 million contract for the construction of a hospital in Cyberjaya, Selangor with a capacity of 288 beds.

As at 10.36am, Gadang’s share price stood at RM1.25 with 1.74 million shares changing hands. It has a market capitalisation of RM815 million.

The group said in a filing with the stock exchange that its wholly-owned subsidiary Gadang Engineering (M) Sdn Bhd had accepted the letter of acceptance dated August 1 from Cyberview Sdn Bhd to undertake the proposed development.

The contract is expected to contribute positively to the future earnings of Gadang group.