News

Muhibbah Engineering bags RM116.4m construction job

MUHIBBAH Engineering (M) Bhd has secured a RM116.4 million construction contract from the Institute of Technology Petronas Sdn Bhd, a subsidiary of Petroliam Nasional Bhd (Petronas).

In a filing with Bursa Malaysia today, Muhibbah Engineering said the contract was for the proposed construction and completion of student accommodation and student centre at Universiti Teknologi Petronas (UTP) in Perak.

The contract is scheduled to commence on Dec 15, 2022, and is expected to be completed within 30 months from the commencement date.

“The contract is expected to contribute positively to the earnings and net assets of the Muhibbah group for the current and future financial years,” it said.

Muhibbah Engineering’s shares gained half a sen, or 1.05%, to close at 48 sen today. Its market capitalisation stood at RM349 million. — TMR

Dayang Norazhar

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