KUALA LUMPUR (May 15): Mitrajaya Holdings Bhd (KL:MITRA) has clinched a contract worth RM174.3 million to build a hospital in Shah Alam, Selangor.

The group, through its wholly-owned Pembinaan Mitrajaya Sdn Bhd, accepted the contract from Avisena Healthcare Sdn Bhd on Wednesday.

To be completed in 36 months, the contract is slated for completion by May 21, 2027, Mitrajaya showed in a bourse filing.

Mitrajaya, which is involved in construction and property development, has been loss-making for three consecutive quarters.

For the fourth quarter ended Dec 31, 2023 (FY2023), the group logged a net loss of RM2.46 million against a net profit of RM2.27 million a year earlier, as it saw lower finance income, while revenue dropped 18.89% year-on-year to RM46.18 million.

Still, net profit for the full FY2023 about doubled to RM14.1 million from RM7.4 million, as cumulative revenue rose to RM294.78 million from RM259.58 million. The stronger full-year profit was mainly due to a one-off gain from the disposal of land in Pulau Melaka, which contributed RM63 million to revenue and a profit before tax of RM32.52 million.

Mitrajaya shares finished one sen or 3.57% lower at 27 sen on Wednesday, giving the company a market capitalisation of RM209.56 million.