KUALA LUMPUR: G3 Global Bhd was among the most actively traded stock today after it won a 30-year concession from the Maldives government.
The news pushed the stock up 14 per cent to four sen.
It was among the top ten most actively traded stocks in the market with 35 million shares changing hands.
On Thursday, G3 Global said the Maldives Ministry of Homeland Security And Technology to build, operate and manage a migrant worker's dormitory in the country.
Its subsidiary, Atilze Digital Sdn Bhd, was awarded the exclusive right to implement the National Integrated Migrant Workers Dormitory (NiMWD) project for the Maldives government under a 30-year concession.
The concession period for the project shall be for an initial period of 30 years from the date of issuance of the land lease with an automatic extension of an additional period of 30 years.
The scope of work for the job is to implement the NiMWD system, a digital platform which aims to oversee and manage the accommodation and welfare of all migrant workers in the Maldives.
G3 Global will also build-operate manage the dormitories of the project based on a private-public partnership model, with a 100 per cent private finance initiative and revenue sharing between the Maldives government and the company.
The company said employers in Maldives will be charged US$100 per migrant worker per month for the first year, after which it will be increased to US$120 per month, out of which US$5 will go to the government.