Shares of See Hup Consolidated Bhd rose 25 sen or 16.89% to RM1.73 in this morning's trading session after securing a contract worth RM91.03 million from China Communications Construction (ECRL) Sdn Bhd for the construction of the East Coast Rail Link (ECRL). .
At 9.42am, See Hup surged to RM1.55, still up 7 sen or 4.73% from yesterday's close at RM1.48, with 372,900 shares changing hands.
According to the company yesterday, the contract will be taken over by its subsidiary, SH Moment Builder Sdn Bhd, involving Package 2, Part 4 of the railway.
The project will start on June 13 and will take 26 months.
The company told Bursa Malaysia yesterday that the contract is expected to make a positive contribution to See Hup's earnings, future earnings and earnings per share (EPS).
