MMHE rises 6.25% after unit bags 5-year maintenance contract

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KUALA LUMPUR (April 11): Shares in Malaysia Marine and Heavy Engineering Holdings Bhd rose 6.25% this morning after its wholly-owned unit Malaysia Marine and Heavy Engineering Sdn Bhd bagged a five-year master service agreement contract for turnaround works and daily maintenance work on mechanical static for plants owned by Petronas — with the option to extend.

At 9.13am, the stock rose 5 sen to 85 sen with 995,700 shares done.

The contract’s value was not disclosed.