Melati Ehsan bags RM59.5m additional road work job

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KUALA LUMPUR (Oct 14): Melati Ehsan Holdings Bhd has bagged a RM59.5 million contract for additional road work scope from Kg Kechur to Kg Seberai, Jelai, Pahang from the Public Works Department (JKR).

In a filing with Bursa Malaysia today, Melati Ehsan said its wholly-owned unit, Pembinaan Kery Sdn Bhd has accepted a letter of award from JKR for the additional work scope.

The additional works are related to Package 3 of the Central Spine Road project, which stretches from Gua Musang, Kelantan to Kg Relong, Pahang.

Melati said that the contract is for a period of 24 months, to be completed on Oct 7, 2016.

“The additional work scope is not expected to have any material effects on the earnings per share of Melati for the financial year ending Aug 31, 2015. However, the additional work scope is expected to contribute positively to the future earnings of the Melati group,” said Melati.

The counter closed unchanged at RM1.25 today, translating to a market capitalisation of RM149.57 million.