KUALA LUMPUR (Aug 11): Engineering services company Minetech Resources Bhd has been awarded a contract to undertake the design and construction works of an elevated road in Selangor valued at approximately RM11.3 million. 

In a statement today, Minetech said its wholly-owned subsidiary Minetech Construction Sdn Bhd (MCSB) has accepted the letter of award from Wangsa Keringat Development Sdn Bhd. 

Minetech's executive director Matt Chin said the group is looking forward to a fruitful working relationship with Wangsa Keringat following the acceptance of the letter of award by MCSB. 

"This project will undoubtedly help Minetech’s construction division grow," he said.  

“We will continue to leverage on our expertise to secure projects that will strengthen the portfolio of work in the company’s construction division. We believe that the domestic construction industry will stabilise in 2021 and we want to capitalise on any opportunities to realise the company’s potential in this industry,” Chin added. 

According to Minetech, the road works is part of a four-block condominium project undertaken by Wangsa Keringat, which is principally involved in civil construction, property development and project management for the private sector, with a portfolio of more than RM500 million in contracts.

At market close today, shares of Minetech were down 0.5 sen or 3.33% at 14.5 sen per share with a market capitalisation of RM169.01 million.