KUALA LUMPUR (March 7): KKB Engineering Bhd has bagged two contracts worth RM100.7 million, which will help boost its earnings for the financial year ending Dec 31, 2018 (FY18).
In a filing with Bursa Malaysia yesterday, KKB said its subsidiary Harum Bidang Sdn Bhd has received a supplementary contract from CMS Infra Trading Sdn Bhd (CMSIT) to supply concrete-lined mild steel pipes and mechanical coupling to JKR Central Unallocated Stores in Tanah Puteh, Kuching.
The expiry date for this supplementary contract is Aug 31, 2018.
“The supply and delivery will be based on issuance of purchase orders by CMSIT on an ‘as and when required’ basis,” said KKB.
The company has also been awarded a contract to supply liquefied petroleum gas cylinders from Boustead Petroleum Marketing Sdn Bhd, with completion scheduled to be within the third quarter of 2017.
“The [two] contracts are expected to contribute positively to the earnings and net assets of KKB Group for FY18,” said KKB.
KKB shares closed unchanged at RM1.22 yesterday, giving it a market capitalisation of RM311.93 million.
This article first appeared in The Edge Financial Daily, on March 7, 2017.