More in business

Business

Friday, 13 July 2018 | MYT 10:00 AM

WCT shares rise on RM555mil contract win

KUALA LUMPUR: Shares in  WCT Holdings Bhd were boosted in early trade on Friday after announcing a RM555mil mixed development contract.


WCT rose 9.04%, or 7.5 sen to 90.5 sen. It is one of the most actively traded stocks with 19.2 million shares done. WCT-WE jumped 52.9%, or 4.5 sen to 13 sen.


The group has secured a RM555mil contract from Lendlease Projects (M) Sdn Bhd for a proposed mixed development in the Tun Razak Exchange (TRX) Lifestyle Quarter.


WCT said Lendlease had, in a letter dated July 11, confirmed its intent to award the works for the project known as the 'Proposed Commercial Mixed Development on Plot 1' to WCT Bhd (WCTB), a wholly-owned subsidiary of the company.


The contract comprises the construction of a four-level shopping complex, three levels of car park, a level of open landscape with retail space, an information centre (future development), as well as the future development of Lot PT157 in Seksyen 67 of Jalan Tun Razak.