WCT shares continue to rise after winning LRT3 package worth RM640m

PETALING JAYA: Shares of WCT Holdings Bhd continued to rise by 2.86% this morning, after its unit WCT Bhd bagged a RM640 million job to undertake and complete the Package GS02 – for Light Rail Transit Line 3 (LRT3) from Bandar Utama to Johan Setia from Prasarana Malaysia Bhd.
At 11.04am, the stock stood at RM1.80 with 1.56 million shares changing hands. WCT has a market capitalisation of RM2.46 billion.
Package GS02 involves the construction of a guideway from Merchant Square to Suria Damansara, stretching 2.9km long with two stations and it is adjoining to the guideway under Package GS03, which continues from Suria Damansara to Temasya Glenmarie, stretching 2.8km long, making it a total length of 5.7km long with four stations under Package GS02 and Package GS03.
Previously, WCT Bhd had secured another two packages under LRT3, namely Package TD1 – construction and completion of Johan Setia Depot (Phase 1) and associated works for a contract sum of RM185.9 million in April 2017 – as well as Package GS03, construction and completion of guideway, stations, park and ride, ancillary buildings and other associated works, for a contract sum of RM840.0 million in August 2017.