Minetech clinches RM35m MRT2 job

PETALING JAYA: Minetech Resources Bhd announced that it has bagged another MRT Line 2 contract with a value of RM35.19 million.
The group told Bursa Malaysia that its wholly owned subsidiary Minetech Construction Sdn Bhd (MCSB) had on Aug 9 entered into a sub-contract agreement with MMC Gamuda KVMRT (UGW) Joint Venture appointing MCSB as the sub-contractor to perform construction and completion of excavation works, rock strengthening, steel strutting and other associated works for station box, entrances and paid link at Chan Sow Lin station under the MRT Line 2 project.
The sub-contract works will commence on Aug 15 and are expected to contribute positively to Minetech’s future earnings and net assets per share.
Minetech’s share price rose half a sen to close at 14 sen yesterday on some 4.9 million shares done, giving it a market capitalisation of RM102.42 million.