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KUALA LUMPUR : Ingress Corporation
Bhd's shares traded higher yesterday following a
news report that it may secure another major rail
contract worth RM1 billion after earlier winning
a contract of the same value.
The stock closed 8.34% or four
sen higher at 52 sen, with 121,000 shares traded
after touching a high of 55 sen. A news report reported
that Ingress was tipped to secure the new contract
to supply signalling and communication systems for
the Ipoh-Padang Besar double-tracking railway project.
Ingress executive vice-chairman
Datuk Rameli Musa could not be reached for comment.
The company announced on July 7
that its 49% associate company, Balfour Beatty Rail
Sdn Bhd, in a joint venture with Ansaldo STS Malaysia
Sdn Bhd, had secured a RM1 billion contract to provide
rail electrification for the Ipoh-Padang Besar double-tracking
project.
In a statement to Bursa Malaysia
yesterday, Ingress reiterated the securing of the
earlier contract, but was silent on the speculation
on the portion involving signalling and communication
systems.
Balfour Beatty's technological
expertise in railway systems is evident in the diverse
range of services it provides, from planning to
project management in the field of power and electrification,
track works, signalling and asset management.
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