Wednesday 21 Feb 2024
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KUALA LUMPUR (Dec 13): Kejuruteraan Asastera Bhd (KAB), a home-grown electrical and mechanical engineering specialist, has bagged a RM14.5 million subcontract from Kerjaya Prospek (M) Sdn Bhd to undertake electrical and telephone services works for a luxury condominium project here.

In a Bursa Malaysia filing today, KAB said it has received a letter of acceptance from Kerjaya Prospek to act as the latter's nominated subcontractor for the proposed project, which involves the installation, testing and commissioning of electrical systems, as well as telephone and telecommunications infrastructure.

KAB is expected to commence work on Jan 8, 2018, with completion on May 24, 2020.

KAB said the proposed project is expected to contribute positively to the group's future earnings for the duration of the contract.

"We are confident that 2018 will be a better year for our group in view of our expansion plans, as well as the improving macroeconomic landscape," KAB managing director Datuk Lai Keng Onn said in a separate statement.

KAB shares closed down 0.5 sen or 1.75% at 28 sen today, bringing a market capitalisation of RM8.8 million.

 

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