Monday 16 Dec 2024
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KUALA LUMPUR (July 10): Electrical and mechanical engineering company LFE Corp Bhd (KL:LFECORP) has bagged a contract worth RM14.68 million as a sub-contractor for air conditioning, mechanical ventilation, and building management system services.

In filing with Bursa Malaysia, LFE Corp said its wholly owned subsidiary LFE Engineering Sdn Bhd had accepted the letter of award from Kajima (Malaysia) Sdn Bhd and Sunway Construction (SunCon) Sdn Bhd — a wholly owned subsidiary of Sunway Construction Group Bhd (KL:SUNCON).

The contract, which commenced on March 20, 2024, is slated for completion by Feb 28, 2026. The project work is for the proposed Daiso GDC Warehouse at Pulau Indah, Port Klang.

LFE Corp, whose share price has surged 78.95% year-to-date, said it did not expect any material risk arising from the contract other than normal operational risk, which the group would take appropriate measures to minimise.

It added the contract is expected to contribute positively to the earnings and net assets per share of the group for the financial year ending Dec 31, 2024 and up to the expiry of the contract.  

Shares in LFE Corp closed half a sen or 1.45% lower at 34 sen on Wednesday, with a market capitalisation of RM376.93 million.

Edited ByEsther Lee
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