PETALING JAYA: Protasco Bhd’s 30% owned associate company, PJP Barisan HCM JV Sdn Bhd, has been awarded by the Public Works Department a performance-based contract for the long-term management and maintenance of state roads in Mukah, Sarawak.
The Package 3 (Mukah Division) contract is for a period of 10 years effective January 1, 2020 until December 31, 2029.
Protasco said the contract sum of about RM24.6 million per annum is subject to review every three years with a maximum increase of 7.2% per revision.
“The contract is expected to contribute positively to the future earnings of Protasco group.”
At the midday break, Protasco’s share price was down half a sen to 33 sen on 2.36 million shares done.