Pesona Metro gains 3.27% on RM218.22m contract award

PETALING JAYA: Pesona Metro Holdings Bhd’s shares gained 3.27% to 31.5 sen  on early trade after its joint venture (JV) with Intrasegi Sdn Bhd has been awarded a contract worth RM218.22 million for the construction of an office in Kuala Lumpur.
 
At 10.50 am, the stock was trading at 31 sen with 10.03 million shares done.
In a filing with Bursa Malaysia on Friday, the group said the contract was awarded to Intrasegi Sdn Bhd-Pesona Metro Sdn Bhd JV by Pembinaan Kery Sdn Bhd, a wholly owned subsidiary of Melati Ehsan Holdings Bhd.
The contract is for the construction and completion of superstructure works, external works within boundary, associated works and ancillary buildings of the project located at Jalan Conlay.
The project is for a duration of 26 months commencing Sept 1, 2018 and ending on Oct 31, 2020.
The project, which will be funded via internal generated funds, is expected to contribute positively to the earnings and enhance the net assets of the group during the duration of the project.