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Nikkei Markets

Malaysia Gabungan AQRS Hopes To Secure At least 1 Order By Month-End For LRT3- CEO

By Gho Chee Yuan and Chong Sin Hao
Nikkei Markets
KUALA LUMPUR (Aug 15) -- Malaysian construction company Gabungan AQRS hopes to secure by this month-end at least one three-year contract of the four bids it submitted for the Rail Transit Line 3 project, its chief executive said Tuesday.

"We have submitted four bids for LRT3 work packages and is hopeful to secure one of the 3-year jobs by end of this month," Azizan Jaafar told Nikkei Markets, without disclosing the tender value.

The comments come on a day when the shares of the company rose as much as 3.1% to 1.67 ringgit apiece, the highest since November 2014, on speculation that it will soon win orders for the LRT3 project and also secure contract for the East Coast Rail Link. The shares have added 82.3% year-to-date on strong order win newsflows.

Gabungan AQRS shares are now 1.9% higher at 1.65 ringgit apiece.
- By Gho Chee Yuan and Chong Sin Hao; dave.chong@nikkeinewsrise.com; +603-20267363
- Edited By Abhrajit Gangopadhyay
- Send Feedback to feedback@nikkeinewsrise.com
- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.

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