CMS shares fall 1.32% despite contract extension

PETALING JAYA: Cahya Mata Sarawak Bhd’s (CMS) share price fell 1.32% this morning despite being granted a six-month extension to its road maintenance contract from the Sarawak state government.

At 10.59am, its share price was 5 sen or 1.32% lower at RM3.73 with a total of 5,400 shares traded.

Yesterday, CMS told Bursa Malaysia that its wholly owned subsidiary CMS Roads Sdn Bhd was granted the extension for the 15-year contract, for a contract sum of RM87.7 million.

The extension was granted on the same terms and conditions as the previous one, with the intention of facilitating negotiations and finalising revisions to terms and conditions for the renewal of the agreement.