Vertice share price flat despite job win

PETALING JAYA: Shares of Vertice Bhd was flat at 88 sen this morning, despite announcing that it has won a road construction contract worth RM59.13 million in Pengerang, Kota Tinggi, Johor yesterday.
At 11.27am, the stock stood at 88 sen with 62,100 shares changing hands, giving it a market capitalisation of RM125 million.
Verice told Bursa Malaysia that its wholly owned unit Vertice Construction Sdn Bhd had accepted a sub-contract offer from Tulane Sdn Bhd pertaining to Package 20C4: Provision of Engineering, Procurement, Construction and Commissioning (EPCC) for the interconnecting road from Rapid Site to JKR Road.
The group expects the sub-contract to contribute positively towards its earnings and net tangible assets.