Quick take: PICorp shares up 11% after clinching sewerage treatment contract

TheStar Wed, May 13, 2020 09:11am - 11 months ago

KUALA LUMPUR: Progressive Impact Corp Bhd’s (PICorp) rose over 11% in early trade Wednesday after the company secured a RM8.46mil sewerage treatment plant contract.

The counter added 11.11%, or one sen to 10 sen with over two million shares traded. It is currently trading at a PE ratio of 32.20 times.

PICorp has clinched a RM8.46mil contract to construct a sewerage treatment plant in Port of Tanjung Pelepas.

PICorp said its wholly-owned subsidiary Alam Sekitar Malaysia Sdn Bhd (ASMA) signed the eight-month contract today with Pelabuhan Tanjung Pelepas Sdn Bhd (PTP), which is 70%- owned by MMC Corp Bhd.

Under the contract, ASMA will undertake the construction of module two of the sewerage treatment plant, while upgrading module one of the plant and remedying any defects present.

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