KUALA LUMPUR (June 14): Crest Builder Holdings Bhd rose as much as 3.5 sen or 3.6% to RM1.01 this morning after the company bagged a construction job worth RM438.29 million.

The counter gave up the gains and traded at 98.5 sen a share, still up 1 sen or 1.03%, with 2.47 million shares changing hands as at 11.15am.

The construction and engineering contractor's share price has somewhat recovered gradually after it reached a low of 84.5 sen in the past six months. Year to date, the share price has declined 3.43%.

The counter is trading at a trailing 12-month PE of 22.38 times.

Crest Builder told Bursa Malaysia yesterday that its wholly-owned subsidiary Crest Builder Sdn Bhd has been awarded a contract by Sime Darby Melawati Development Sdn Bhd for the construction of a mixed development, which includes two 37-storey serviced apartment towers, a six-storey podium car park with a recreational floor, four commercial levels, one sub-basement car park and a power processing unit at Setapak, Kuala Lumpur, for a contract sum of RM438.29 million.

The contract period set out in the letter of acceptance is 30 months from the date of site possession, which is on June 21. The contract is expected to be completed by Jan 11, 2019.