KUALA LUMPUR (Sept 26): Citaglobal Bhd (KL:CITAGLB) has secured a RM47.56 million road construction project in Terengganu. 

The contract for Package 8 of the JalanRaya Simpang Pulai–Gua Musang–Kuala Berang project covers the stretch from Kampung Jeneris to Kuala Telemong (Phases 2 & 3) in Hulu Terengganu. 

It includes a range of tasks such as earthworks, pavement construction, drainage works, road furniture and geotechnical works, Citaglobal told the stock exchange on Thursday. 

This project was awarded by After Image Sdn Bhd to Citaglobal’s wholly owned subsidiary, Citaglobal Engineering Services Sdn Bhd (CESSB). 

According to Citaglobal, construction for the project is set to commence on Oct 7, 2024, with an anticipated completion date within 12 months. 

Citaglobal is involved in energy, civil engineering and construction, property and manufacturing. 

For the second quarter ended June 30, 2024 (2QFY2024), the group’s net profit fell 5.39% to RM2.84 million from RM3 million a year earlier, as revenue decreased 8.08% to RM51.87 million from RM56.43 million on lower contributions from the energy segment. 

For the first half of FY2024, Citaglobal booked RM5.03 million net profit on a revenue of RM129.94 million. 

Shares of Citaglobal slipped 3.5 sen or 3.66% to close at 92 sen on Thursday, giving it a market capitalisation of RM391.4 million.