Seacera's share price fall 0.53% despite RM216m contract win from RRIM

PETALING JAYA: Seacera Group Bhd’s share price fell 0.53% this morning despite bagging a RM216 million contract to build the Rubber Research Institute of Malaya (RRIM) Center of Excellence.
At 10.55am, its share price fell 0.5 sen to 93.5 sen with a total of 1.40 million shares traded. On Tuesday, Seacera shares closed 3.3% or 3 sen higher at 94 sen.
The company told Bursa Malaysia on Tuesday that it has accepted a letter of award from Koridor Padu Sdn Bhd for the sub-contract works of RM216 million, for the construction and completion of the project in Sg. Buloh.
The contract is for 24 months and the works are expected to be completed by October 2019. It is expected to contribute positively towards the group’s earnings and net assets for the financial year ending Dec 31, 2018 and beyond.