Daya Materials shares flat on RM104m deal

PETALING JAYA: Daya Materials Bhd’s share price remained unchanged at mid day after the Practice Note 17 (PN17) company bagged a contract worth RM104.07 million by Penang Specialist Hospital Sdn Bhd.
At 12.03pm, Daya Materials' share price stood at 4 sen. The stock was the third most actively traded, with 75.31 million shares changing hands.
Yesterday, Daya Materials announced that its 51%-owned subsidiary Daya CMT Sdn Bhd accepted the letter of award of the contract for the construction of a new annex 10-storey hospital block in Penang. The contract works also include alteration works and addition to the existing hospital block with an open car-park and one unit TNB substation.
On Wednesday, Daya Materials triggered the prescribed criteria of PN17 when its shareholders’ equity fell to RM19.1 million on a consolidated basis in the fourth quarter ended Dec 31, 2017, which is less than RM40 million and represents less than 25% of its issued capital.