KUALA LUMPUR (Sept 18): Shares of Ahmad Zaki Resources Bhd (AZRB) rose in early trade today after it bagged a mixed development project worth RM386.65 million.

At 9.13am, AZRB rose 2.44% or 1.5 sen to 63 sen with 102,500 shares done.

In a filing yesterday, the company said its unit, Ahmad Zaki Sdn Bhd, had received a letter of acceptance of tender from Uda Legasi Sdn Bhd for the development at Kampung Bharu, Kuala Lumpur.

It said the development comprised one block of 47-storey apartment building with 639 units of apartments, one block of 29-storey commercial office building, as well as one level of basement parking.

AZRB said the contract was for a period of 40 months from the date of site possession.

It said the contract was expected to contribute positively to its earnings from the financial year ending Dec 31, 2015 onwards.

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