MCE Holdings' shares rise 3.7% after securing Proton contracts

July 12, 2018 | By | Reply More

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PETALING JAYA: MCE Holdings Bhd’s share price rose 3.7% this morning on news of its subsidiary securing contracts to supply parts for new Proton car models.

At 10.27am, its share price rose 3.7% or 2.5 sen to 70 sen with 14,900 shares traded.

Yesterday, MCE said its wholly owned subsidiary MultiCode Electronics Industries (M) Bhd has secured contracts to supply various electronics and mechatronic components and parts for new Proton car models.

The projects are expected to generate total revenue of RM105 million for the group over a nine-year period, whilst the estimated total investment cost is RM800,000.

The supply of these parts is expected to commence in the fourth quarter of the financial year ending July 31, 2019 for a duration of nine years.

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