Mudajaya shares remain unchanged despite new contract

PETALING JAYA: Mudajaya Group Bhd’s share price remain unchanged at RM1.12 this morning despite news of it obtaining a RM118.6 million construction contract.

At 11am, its share price stood at RM1.12 with a total of 224,500 shares traded. The stock closed unchanged at RM1.12 yesterday with 177,000 shares traded.

Yesterday, Mudajaya said its wholly-owned subsidiary Mudajaya Corp Bhd had accepted a letter of award and a letter of addendum from KLIAA-KLIACS Consortium for a RM118.6 million contract to undertake the construction of a 16-floor office tower in Shah Alam.

The project is targeted to be completed by September 2019. It is expected to contribute positively to the group's earnings for the financial year ending Dec 31, 2017 onwards.