Quick take: LFE rises 4.5% after securing RM19mil contract

KUALA LUMPUR: Shares of LFE Corp Bhd rose over 4.5% in early trade Wednesday after the company secured RM19mil structural works contract.

The construction engineering company added 4.55%, or one sen to 23 sen with over 3.17 million shares traded. In the past one year, the counter has risen some 125%.

LFE has secured a RM19.1mil contract to undertake structural works for the carpark and podium of a service apartment in Damansara.

LFE said its wholly-owned subsidiary LFE Engineering Sdn Bhd has accepted the letter of award from Shiangly Athens Park Sdn Bhd

“The nine-month contract is estimated to be completed by June 15, 2020,” it said.

Last week, the group secured four contracts with a combined value of RM34.5mil to provide electrical, fire protection and hydraulic services for the apartment project in Damansara.

Source: TheStar