KUALA LUMPUR (April 13): WZ Satu Bhd has secured a RM68 million subcontract to construct two carriageway bridge structures in Kuala Langat, Selangor.
In a filing with Bursa Malaysia today, WZ Satu said its wholly-owned subsidiary WZS BinaRaya Sdn Bhd (formerly known as WZS KenKeong Sdn Bhd) had accepted the letter of award from Mujur Minat Sdn Bhd.
The contract has two sections, with the first one commencing on April 16 this year and completing on March 31, 2019, while the second one will begin tentatively around January or February 2020 and be completed 12 months later in 2021.
WZ Satu said the risk factors affecting the project including execution risks such as availability of skilled manpower and materials, normal operational risk associated with the project, weather conditions, economic and regulatory conditions.
The group said the contract will contribute positively to its earnings and net assets per share for financial years ending Aug 31, 2018 to 2021.
WZ Satu's share price declined 3.5 sen or 5.6% to close at 59 sen today, giving it a market capitalisation of RM209.33 million.
Year to date, the counter has fallen 41% from RM1 on Dec 29 last year.