PETALING JAYA: Mesiniaga Bhd’s share prise rose 29.31% this morning after it accepted a RM1.9 billion contract from Xiddig Cellular Communications Sdn Bhd for the commissioning of the core, metro distribution and access network with related support systems for the EM-IIG project.
At 10.49am, Mesiniaga was trading at RM1.50 with 117,400 shares changing hands.
The contract ends on March 31, 2020.
The contract is expected to contribute positively to the company’s earnings and net assets over the contract period. It is also expected to have a positive effect on the earnings per share and gearing.
