(Updated)

Nestcon rises 5% on bagging job worth RM165m in Sarawak

Nestcon rises 5% on bagging job worth RM165m in Sarawak
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KUALA LUMPUR (Sept 21): Shares in Nestcon Bhd rose 5.19% on Wednesday (Sept 21) morning after it bagged a RM165.08 million contract to provide site clearance, earthwork and ancillary works for Block 1 of CBS 2 in Sungai Bakau at the Mukah-Balingan coal field in Sarawak.

At 9.41am, Nestcon had risen two sen to 40.5 sen, with 4.52 million shares traded.

At close on Wednesday, Nestcon share price rose 3.9% to 40 sen a share, at a market capitalisation of RM257.53 million.

The company said its wholly-owned subsidiary Nestcon Infra Sdn Bhd had accepted a two-year letter of award with an option to extend for another two years, from Bara Mining & Construction Sdn Bhd, after it was appointed as a contractor for the project.

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Nestcon bags RM165 mil works contract for Balingan coalfield in Mukah