MTDI ACPI jumps 20.69% on RM184m construction job in Perlis

TheEdge Fri, May 15, 2020 11:59am - 3 years View Original


KUALA LUMPUR (May 15): Shares in MTD ACPI Engineering Bhd rose as much as 20.69% in mid-morning today upon securing a RM184.17 million contract for the development of Chuping Valley Industrial Area Phase 1 in Perlis.

At 11.38am today, MTD ACPI had risen three sen to 17.5 sen, valuing the group at RM33.59 million. The counter saw 1.55 million shares traded.

In a bourse filing yesterday, the group said its wholly-owned subsidiary MTD Construction Sdn Bhd (MTDC) accepted a letter of award from the Northern Corridor Implementation Authority on Wednesday.

It said the 24-month project will commence on June 1 and be completed on May 31, 2022.

The contract is expected to contribute positively to earnings of the group during the duration of the contract, MTD ACPI added.

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