Tuesday 16 Jul 2024
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KUALA LUMPUR (Feb 22): Muhibbah Engineering (M) Bhd's 49% owned Muhibbah Engineering Middle East LLC has bagged a construction project worth approximately RM149 million (Qatari Riyal 143 million) from the Economic Zones Company, Qatar (MANATEQ), a company owned by the Government of Qatar.

In a filing with Bursa Malaysia, it said the contract is for the design, construction and erection of syncrolift and travel lift with ancillaries and all associated works in Marsa Um Alhoul.

Muhibbah said the construction works as implicated in the contract is to be commenced immediately and is expected to be completed by the first quarter of 2019.

"The contract is expected to contribute positively to the earnings and net assets of the Muhibbah Group for the current and future financial years," the filing added.

At market close, shares of Muhibbah were up 3 sen or 0.99% at RM3.06 for a market capitalisation of RM1.484 billion. 

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