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Quick take: Salcon rises on contract from Gamuda Land

KUALA LUMPUR: Salcon Bhd climbed marginally in early trade Thursday after securing a RM20.85mil contract from Gamuda Land (Botanic) Sdn Bhd.

The water services company added 0.5 sen to 22 sen. Salcon-WB gained 15.38%, or one sen to 7.5 sen with 1.9 million shares done.

Salcon said Envitech Sdn Bhd, a 60%-owned subsidiary of Salcon Engineering Bhd, which in turn is a wholly-owned subsidiary of the company, has secured a RM20.85mil sewerage system contract from Gamuda Land.

Salcon said the work involves the rehabilitation of vacuum sewerage system at Bandar Botanik and Ambang Botanik in Klang.

It said the project is a construction contract and has no option for renewal.

Salcon said the project is expected to contribute positively towards the earnings and net assets of Salcon group for the financial years ending Dec 31, 2021 and 2022.

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