ARB active, up 5.68% on water tech deals with two Chinese companies worth RM800m

TheEdge Wed, Jul 24, 2019 09:37am - 4 years View Original


KUALA LUMPUR (July 24): ARB Bhd (ARBB) shares rose 5.68% in active trade this morning after the firm said its wholly-owned ARBIOT Sdn Bhd is to work with two Chinese companies for the provision of water supply-related technology, with a combined project value of approximately RM800 million.

At 9.17am, ARBB rose 2.5 sen to 46.5 sen with 8.96 million shares traded.

ARBIOT signed an MoU with Hangzhou Mayam IoT Tech Co Ltd to deploy smart meters to measure, collect and analyse water consumption information, with the project valuing at RM200 million.

ARBIOT also signed an MoU with Shuifa IoT Tech Co Ltd, which involves the installation of a Smart Household Water Filtration System, that can be supplied to the public and private individuals — with the project valued at RM600 million.

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