KUALA LUMPUR (May 27): Kejuruteraan Asastera Bhd (KAB) has received a Letter of Acceptance (LoA) for a contract worth RM11 million from Kerjaya Prospek (M) Sdn Bhd.
In a Bursa Malaysia filing today, the ACE Market-listed firm said it will act as the nominated subcontractor for supply, delivery, installation, testing and commissioning of electrical service works for Patsawan Properties Sdn Bhd.
KAB said the date of commencement of the contract is May 27, 2020, which is also upon the acceptance of the LoA from Kerjaya Prospek, and KAB is expected to complete the delivery of its services by Jan 31, 2023.
"The LoA is expected to contribute positively to the future earnings of KAB for the duration of the contract," it said.
At the time of writing, KAB shares rose 65% or five sen to 78 sen with a market capitalisation of RM721.91 million