Shares of Widad Group Bhd rose more than 6% in active trading this morning after the company secured a contract worth RM89.8 million to upgrade a water treatment plant at Sungai Limau in Baling, Kedah.
At 9.28am, Widad's shares rose 6% or 3 sen to 53 sen with a volume of 26.94 million shares worth RM1.46 million.
The stock had earlier risen to 53.5 sen.
Yesterday, the Kedah state government awarded a tender to Widad's wholly -owned subsidiary, Widad Builders Sdn Bhd, which is involved in integrated facility construction and management activities.
According to Widad, the project was funded through internal funds and external loans.
Widad added that the contract is expected to make a positive contribution to its income and net assets during the project period from May 2, 2021 to October 28, 2023.
