KUALA LUMPUR (Dec 21): Kejuruteraan Asastera Bhd (KAB) has been nominated as the subcontractor for electrical, telephone and extra-low voltage services for three projects in Kuala Lumpur developed by Mah Sing Group.
The three subcontracts are worth a total of RM57.1 million, the electrical and mechanical engineering said in a filing with Bursa Malaysia.
The three projects are M Luna undertaken by Vienna Home Sdn Bhd, M Arisa undertaken by Cosmowealth Housing Development Sdn Bhd, and M Oscar undertaken by Mah Sing Properties Sdn Bhd. Work completion is between 30 and 36 months.
M Luna involves two blocks of service apartments in Mukim Batu, M Arisa comprises two blocks of service apartments in Mukim Setapak, and M Oscar involves two blocks of apartment suites in Mukim Petaling.
KAB managing director Datuk Lai Keng Onn said the subcontract wins demonstrate that the group is well equipped to embrace the post-pandemic operating environment.
“We believe the government’s heightened expectations for environment, social and governance (ESG) as well as sustainability practices moving forward are positive for our growth as KAB is in a good position to embrace future trends and support diversification towards green energy, energy efficiency and energy technologies which will extensively reduce carbon footprint. Likewise, this would help create a prosperous future and a better world," he said in a statement.
KAB shares were four sen or 3.88% higher at RM1.07 as at the time of writing today, bringing the stock a market capitalisation of RM996.82 million. Some 1.65 million shares had changed hands.