Scomi Engineering rallies 17.7% on RM494m SPNB contract

Scomi Engineering Weekly Chart

KUALA LUMPUR: SCOMI ENGINEERING BHD’s share price surged 17.7% in late afternoon trade on Monday, Dec 6 after its subsidiary accepted the contract price of RM494 million from Syarikat Prasarana Negara Bhd (SPNB) for the monorail fleet expansion project. At 3.30pm, Scomi Engineering was up 17 sen to RM1.13 sen.

There were 172 million shares valued at RM1 to RM1.13. Scomi Engineering said it had received the letter from SPNB dated Dec 3 notifying it of “SPNB’s intent to award to Scomi Rail the contract to perform the project for a contract price of RM494 million, subject to Scomi Rail accepting the said contract price”. It said Scomi Rail had accepted the contract price and according to the SPNB Notice, a formal letter of award would follow.