KUALA LUMPUR (May 21): Construction outfit Ahmad Zaki Resources Bhd announced its wholly-owned unit Ahmad Zaki Sdn Bhd has received a letter of acceptance from East Coast Economic Region Development Council (ECERDC) to construct KPC Port Link Road in Kuantan Port City, Pahang, worth RM113.26 million.

In a filing with Bursa Malaysia this evening, Ahmad Zaki said the contract entails the construction of an elevated interchange at the Gebeng Bypass and Dual Carriageway Road from CH5600 to CH9500.

Ahmad Zaki (fundamental: 0.35; valuation: 1.1) said the contractual period is for 108 weeks, which will commence from the date of site possession.

“The works shall not have any effect on the issued and paid-up share capital. However, the works is expected to contribute positively to the group’s earnings and the net tangible assets from the financial year ending Dec 31, 2015 onwards,” the group said in its filing with Bursa Malaysia this evening.

At 4pm, the stock was unchanged at 70.5 sen, giving it a market capitalisation of RM344.67 million.

According to The Edge Research, the stock is currently trading at 26.75 price-earnings.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations)