Kelington gets RM61.8m gas hook up job in Shanghai

TheEdge Fri, Aug 14, 2020 08:38pm - 3 years View Original


KUALA LUMPUR (Aug 14): Kelington Group Bhd has bagged a remeasurement contract worth approximately RM61.8 million from a China-based semiconductor foundry company to perform gas hook up works in Shanghai, China.

The contract was received by Kelington Engineering (Shanghai) Co Ltd, a wholly-owned subsidiary of Kelington.

In a filing today, the group said the contract is for two years starting from Aug 5, and that its value is subject to the actual amount of work carried out.

"The contract is expected to contribute positively to the earnings and net assets of Kelington for the financial years ending Dec 31, 2020, 2021, and 2022," it said.

Shares of Kelington closed down seven sen or 6.36% to RM1.03, for a market capitalisation of RM330.81 million.

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