Crest Builder Holdings Bhd announced it secured a RM500 million construction contract, causing its share price to surge by 15%. This contract is expected to significantly boost the company's earnings outlook for the next two years.
Malaysian construction company Crest Builder Holdings Bhd saw its share price perform exceptionally well this week, surging 15% to RM0.92 at Friday's close. This came after the company announced it had secured a significant construction contract worth RM500 million for an integrated development project in Kuala Lumpur. This new contract will boost Crest Builder's outstanding order book to approximately RM1.5 billion, providing strong support for the company's revenue and earnings over the next two years. Analysts expressed optimism about the contract win, believing it will improve the company's financial position and market confidence. The news also lifted sentiment across the construction sector, with some construction stocks recording gains despite the overall subdued market performance.
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