KUALA LUMPUR (Sept 19): Kejuruteraan Asastera Bhd's (KAB) wholly-owned subsidiary KAB Technologies Sdn Bhd (KABT) is offering its energy efficiency expertise to the Bandar Mahkota Cheras Mall here under an agreement to undertake an energy performance contract via chiller optimisation at the retail property.
In a statement to Bursa Malaysia today, KAB said KABT had today signed the agreement with property development and investment company Foremost Wealth Management Sdn Bhd.
KAB said: "This is an expansionary strategy for KAB to establish a steady stream of recurring revenue to the group through its subsidiary KABT that specialises in energy efficiency. This allows the group to offer a more diverse range of services."
"The agreement shall commence on the date of the agreement and shall continue in force for a period of six years from the date of first payment," it added.
At 12:30pm, KAB's share price settled down 0.5 sen or 1.27% at 39 sen. The stock saw 1.36 million shares traded.