SRICHA Jumps Nearly 8% after Signalling for THB1,000 Million Revenue Recognition from 3Q22 Onward

The share price of SRICHA surged 7.84% to trade at THB11.00 per share as of 11:50 local time in BKK after being awarded with around THB1,000 million of miscellaneous projects from Dynatec Madagascar Company.

Sriracha Construction Public Company Limited (SET: SRICHA) announced on October 27, 2022, that the company and Dynatec Madagascar Company have been working closely for over 10 years, and Dynatec Madagascar has continuously given work and awarded numbers of projects to the company. Currently, SRICHA noted that there are many miscellaneous projects awarded to the company totaling around one billion baht, which the company expected to recognize into revenue at the beginning of the third quarter of 2022.

The company also expected to receive the project award with a value of around 600 million baht in the near future.