ML Global shares rise 4.03% on RM149.3m contract win

PETALING JAYA: ML Global Bhd’s share price rose 4.03% this morning on news of it securing a RM149.3 million contract for a proposed mixed development project.
At 10.38am, its share price was 4.03% or 6 sen higher at RM1.55 with a total of 287,800 shares traded.
Yesterday, the company told Bursa Malaysia that its wholly owned subsidiary MITC Engineering Sdn Bhd had accepted a letter of award from its parent company LBS Bina Group Bhd.
The project comprises 58 units of shop offices, supermarket, nine-storey hotel building with 158 rooms and a two- to three-storey car park. The duration of the contract is 36 months and work is expected to be completed in October 2020.
The new contract brings the company’s outstanding order book to RM2.12 billion.