Sime Darby Property announced its subsidiary secured a government infrastructure construction contract worth RM1.5 billion. The news drove the company's share price up 3.1% to RM0.67.
Sime Darby Property Bhd saw a notable increase in its share price today, rising 3.1% to RM0.67, following an announcement to the exchange. The company stated that its construction arm successfully bid for a major government infrastructure upgrade project located in the Klang Valley, with a total contract value of approximately RM1.5 billion. The project is expected to commence in the second quarter of 2026 and span three years. The CEO stated that the contract significantly boosts the company's construction order book and marks success in diversifying revenue streams. Analysts believe this substantial contract injection will improve Sime Darby Property's cash flow and earnings outlook, making it a stock to watch in the construction and property sectors.
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