See Hup Consolidated Bhd's share price on Bursa Malaysia traded higher in the trading session earlier today after the group announced it had secured a contract worth RM99.01 million from China Communications Construction (ECRL) Sdn Bhd yesterday.
Bernama reported that as of 9.40am, the counter rose 30 sen to RM1.25, with 149,400 shares changing hands.
In a filing to Bursa Malaysia yesterday, See Hup said the contract, which will be carried out by his 51% subsidiary, SH Moment Builder Sdn Bhd (SHM), is for the construction of part of the earthworks for the East Coast Rail Link (ECRL) project.
China Communications is the contractor for the mega project.
According to See Hup, the letter of acceptance received by SHM today stated that the project involved the construction and completion of part of the earthworks of Package 1, Section 4 of the ECRL.
"The 28-month project will start on March 1 with internal funds or external loans," he explained.
