George Kent shares jump on contract win

Tan Kay Hock, the Chairman of George Kent and Prime Minister Najib Tun Razak’s golf partner

(Reuters) – Shares of George Kent (Malaysia) Bhd rose as much as 14.56 percent after the mechanical and engineering firm-led consortium won a contract for Malaysia’s light rail transit (LRT) extension line project.

By 10:52am (0252 GMT), the counter was up 8.74 percent at RM1.12 per share with 1.15 million shares changing hands against an average of 232,900 for the past 30 trading days. The broader index increased 0.12 percent.

Syarikat Prasarana Bhd, the state-owned project and asset owner for the LRT project, said on Tuesday George Kent-led consortium won the contract for systems works for the extension project, without disclosing the value of the contract.