Fajarbaru rises 2.50% on bagging contract worth RM27.17m

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KUALA LUMPUR (July 22): Shares in Fajarbaru Builder Group Bhd rose 2.50% after it bagged an RM27.17 million contract from Knusford Bhd linked to the Setiawangsa–Pantai Expressway (SPE) project, also known as Duta-Ulu Kelang Expressway (DUKE) Phase-3.

At 9.37am, Fajarbaru added 1 sen to 41 sen for a market capitalisation of RM153.28 million.

Fajarbaru said its wholly-owned subsidiary Fajarbaru Builder Sdn Bhd has accepted a letter of award from Knusford Construction Sdn Bhd, a wholly-owned unit of Knusford Bhd.

The job involves the construction of bridge structure works for the Setiawangsa to Melati stretch of the highway. The tenure of the contract is seven months, ending on Feb 21, 2020.