Mitrajaya jumps 5.91% on mega building contract

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KUALA LUMPUR (Dec 26): Shares of construction outfit Mitrajaya Holdings Bhd has ended 5.91% higher at 98.5 sen in the morning trade today on the back of a contract worth RM186.8 million it secured recently.

At 12:30pm, the counter has ascended 5.91% or 5.5 sen to 98.5 sen, after soaring to as high as 99 sen earlier.

Mitrajaya had clinched a RM186.8 million contract to build Bank Negara Malaysia’s (BNM) Business Operation Complex.

In a filing with Bursa Malaysia on Wednesday, Mitrajaya said its wholly-owned subsidiary Pembinaan Mitrajaya Sdn Bhd had on Dec 18 accepted the contract from BNM.

The contract, which is expected to commence on Jan 2, 2015 and complete by March 31, 2016, is expected to contribute positively to Mitrajaya group’s future earnings. 

In fact, Mitrajaya’s share price has been on an upward trend, climbing from 49 sen a year ago to hit a five-year high of RM1.15 on Nov 28.