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Fibromat Arm Clinches Road Construction Order Worth MYR140 Million; Shares Up 4%

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Fibromat's (KLSE:FIBRO) subsidiary MTS Fibromat has secured an estimated 140 million ringgit subcontract from Hexatrend, according to a Tuesday filing with the Malaysian bourse.

The contract is for the road construction works of Jalan Akses ke Limpaku Pinang in Limbang, Sarawak in Malaysia. It is expected to be completed by June 11, 2029.

The award increases the geotechnical engineering group's outstanding order book to about 495 million ringgit.

The company's shares were up nearly 4% in Wednesday's trade.

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