WCT Wins RM926m Abu Dhabi Residential Project

WCT secured a RM926.2 million Abu Dhabi subcontract, boosting its order book to RM2.2 billion, while analysts retained a Neutral rating as the win met expectations.

WCT Expands Abu Dhabi Presence

WCT Holdings Bhd has secured its second major subcontract in Abu Dhabi, winning a RM926.2 million contract to build six residential buildings under the Yas Riva Residences project for Aldar Development. The award was made through the 50:50 CGC-WCT Joint Venture, with WCT’s share valued at RM463.1 million.

The project is expected to lift the group’s construction order book by 21% to RM2.2 billion and contribute steadily to earnings over its 40-month duration. Despite the positive contract win, analysts maintained a Neutral recommendation and unchanged target price of RM0.50, citing expectations already reflected in forecasts.