KUALA LUMPUR (Dec 17): Gadang Holdings Bhd has secured civil and infrastructure works from Petroliam Nasional Bhd (Petronas) at Pengerang, Johor, worth RM185 million.  

In a filing with Bursa Malaysia today, the civil engineering outfit said its wholly-owned subsidiary, Gadang Engineering (M) Sdn Bhd has been awarded with the contract by PRPC Utilities and Facilities Sdn Bhd, a subsidiary under the Petronas Group last Friday (Dec 11).  

Gadang is tasked to undertake a project known as "Utilities, Interconnecting, Offsite (UIC) facilities: procurement, construction and commissioning (PCC) of civil and intrastructure works" at Storm Water East Area at Pengerang, Johor.  

The contract will commence from the date of the contract award, with a contract period of 20 months.

Gadang expects the contract to contribute positively to its earnings for the financial year ending May 31, 2016 onwards.  

Shares in Gadang closed up one sen or 0.46% at its five years high of RM2.17 today, for a market capitalisation of RM503.14 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)