Mintech’s share price flat after clinching RM35m MRT Line 2 contract

PETALING JAYA: Minetech Resources Bhd share price remains unchanged this morning after it bagged another MRT Line 2 contract with a value of RM35.19 million.

As at 11.29am, Minetech’s share price stood at 14 sen with 7.74 million shares changing hands. It has a market capitalisation of RM102 million.

Its wholly-owned subsidiary Minetech Construction Sdn Bhd (MCSB) had on August 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 August 15 and is expected to contribute positively to Minetech’s future earnings and net assets per share.