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Property News

Wasco secures RM161.86 mil contract for pre-fabricated buildings project in Africa

KUALA LUMPUR (Oct 24): Wasco Bhd’s (formerly known as Wah Seong Corp Bhd) wholly owned subsidiary, W S Engineering & Fabrication Pte Ltd has secured a US$33.89 million (RM161.86 million) contract for the supply of pre-fabricated-buildings for a project in Africa.
In a Bursa Malaysia filing on Tuesday, the group said it has secured the 17 months contract from Schneider Electric France.
According to the group, the scope of work of the contract involves engineering, procurement and construction of pre-fabricated buildings.
“The contract is expected to contribute positively to the earnings of the group over the contract period. The contract is project specific and is not renewable,” it added.
Shares in Wasco settled two sen or 2.05% higher to 99.5 sen, giving it a market capitalisation of RM767.16 million.
Since the beginning of the year, the stock has surged 55.47%.
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Source: EdgeProp.my

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