KUALA LUMPUR (Sept 30): Mudajaya Group Bhd has secured a contract from the Public Works Department of Sarawak (JKR Sarawak) to undertake the design and construction of a vehicle yard and associated facilities at Senari Port in Sarawak for RM56.93 million.

The project is targeted for completion by October 2024, with a construction period of 24 months, Mudajaya said.

The letter of award from JKR Sarawak was awarded to Kendiri Emas Mudajaya Sdn Bhd, an associate of Mudajaya Corp Bhd, which in turn is wholly owned by Mudajaya.

It is the second contract win this year by Mudajaya, which recently announced its expansion into cement and clinker manufacturing in China. In July, the group announced a contract for earthworks and associated works for a 1,200MW power plant project in Gurun, Kedah, for RM104 million.

The group is en route to its second year of profit. In the six-month period ended June 30, 2022 (1HFY22), Mudajaya booked a net profit of RM2.04 million from a net loss of RM6.27 million on lower finance costs and fair value gain on its investments in power plant subsidiary RKM Powergen Pvt Ltd. It achieved net profit even as revenue slipped 0.27% to RM136.27 million from RM136.64 million.

Shares in Mudajaya finished half a sen or 3.23% higher at 16 sen, giving it a market capitalisation of RM201.53 million.