WZ Satu bags RM499m West Coast Expressway construction contract

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KUALA LUMPUR: WZ Satu Bhd has been awarded a project worth RM499 million to construct part of the West Coast Expressway Section 9 mainline works from the Kampung Lekir interchange to Changkat Cermin Interchange. In a fi ling with Bursa Malaysia, WZ Satu said its wholly-owned subsidiary, WZS KenKeong Sdn Bhd, received a letter of award yesterday from the works contractor, IJM Construction Sdn Bhd, for a total subcontract value of RM498.88 million.

Th e project will be undertaken by WZS KenKeong and Laksana Amanbina Sdn Bhd through an unincoporated 80:20 joint venture.

Th e length of the expressway to be constructed is 28km and should be completed within 39 months. The scope of works comprises building dual carriageways and interchanges, roads and bridges, and culverts and drains.

“Th e award is expected to contribute positively to the future earnings and net assets per share ... for the fi nancial years ending August (FY15) to FY17,” it said.

WZ Satu Bhd closed unchanged at RM1.68 yesterday, giving it a market capitalisation of RM424.74 million.

This article first appeared in The Edge Financial Daily, on May 27, 2015.