Cabnet share price jumps 8.8% on new contract
23 Jul 2018 / 11:33 H.
PETALING JAYA: Cabnet Holdings Bhd's share price jumped 3 sen or 8.82% this morning, after it was appointed contractor for extra low voltage works for a serviced apartment development in Forest City, Johor.
As at 11.09 am, the stock stood at 37 sen with 112,200 shares changing hands. It has a market capitalisation of RM63.4 million.
The contract worth RM12.21 million was awarded to the group by Country Garden Pacificview Sdn Bhd.
The job is expected to contribute positively to its earnings and net assets per share from financial years ending December 31, 2018 to 2019.