WCT Holdings Bhd Secures RM152.68 Million Contract for Taiwan National Highway Interchange Project

WCT Holdings Bhd (KL:WCT), a Malaysian infrastructure construction and maintenance company, announced that its wholly‑owned Taiwan subsidiary, WCT Bhd, has been awarded a contract worth RM152.68 million (US$32.3 million) by WU En De Construction Co Ltd. The award was disclosed in a filing with Bursa Malaysia on 18 May 2026.

Project Details

  • Location: 4.1 km stretch between the Gaoke Interchange (Design Station 344.5 K) and the Gangshan Interchange (Design Station 348.6 K) on Taiwan’s Sun Yat‑Sen Freeway in Kaohsiung.
  • Scope: Road works, bridge structural works, and drainage works.
  • Timeline: Construction is scheduled to commence on 1 August 2026 and is expected to be completed within 42 months, i.e., by May 2029.
  • Contractor: The contract was awarded to the Taiwan branch of WCT Bhd, a wholly‑owned subsidiary of WCT Holdings Bhd.

Financial and Market Impact

  • Share Price Movement: Following the announcement, WCT shares increased 1.02 % to RM0.495.
  • Market Capitalisation: The share price corresponds to a market value of approximately RM772.1 million.
  • Price‑to‑Earnings (PE): The stock trades at a PE ratio of 16×, lower than many peers in the Malaysian construction and infrastructure sector.
  • Price‑to‑Net Asset Value (PNAV): The PNAV ratio stands at 0.2×, the lowest among comparable companies, indicating a potentially undervalued position relative to peers such as IJM Corp Bhd (PE ≈ 25×, PNAV 0.8×) and Gamuda Bhd (PE ≈ 26×, PNAV 2.1×).
  • Historical Performance: Despite the recent contract win, the stock remains down nearly 32 % over the past year.

Company Context

WCT Holdings Bhd focuses on construction and maintenance of infrastructure projects, including transportation, water, and power supply. The company also operates in real estate development and telecommunication services. Its market capitalisation is approximately RM764.3 million, and it trades at a PE ratio of 15.98 and a PNAV of 0.2.

The Taiwan contract represents a significant international expansion for WCT, adding a high‑value project to its portfolio and potentially enhancing revenue streams over the next four years.