STEC Hikes Nearly 3% after Signing a Contract Worth ฿9.1bn to Construct “Mochit Complex”

The share price of Sino-Thai Engineering & Construction Public Company Limited (STEC) as of 16:00 local time in Thailand on December ฿19, 2019, jumped ฿0.40/share or 2.90% to trade at ฿14.20/share after the company has reported of its new project with a project value of 9,135 million baht.

STEC has reported that the company has signed a new contract with Mochit Land Co., Ltd. for the “Mochit Complex” project worth 9,135 million baht.

The work will be a reinforced concrete building with 36 floors and 3 basement level on a total area of 180,000 sq.m., including structure, architect and MEP works as well. The construction period is 50 months.