Thursday, June 10, 2010

HSL up after landing PWD job in Sarawak

KUALA LUMPUR: HOCK SENG LEE BHD [] added eight sen to RM1.51 with 302,600 shares done at 10.10am Thusrday, June 10 after news on a road project in Sarawak came through.

The company and its partner Matrik Bestari Sdn Bhd had received a letter of acceptance from the Public Works Department of Sarawak to build an access road linking Samarahan to Tanjong Bako. The contract sum is RM72.5 million.

"The consortium will carry out the works of the project as an unincorporated joint venture with HSL having 90% share in the project. The payment for the project shall be made partly in kind and partly in cash in the ratio of 50:50. The payment in kind shall be in the form of land," it said in an announcement Wednesday.

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