KUALA LUMPUR (Sept 17): Plastic pipes and fittings manufacturer Resintech Bhd (KL:RESINTC) has secured a contract worth US$3.93 million (RM16.5 million) from Phnom Penh Water Supply Authority in Cambodia for the supply of high-density polyethylene (HDPE) pipes and fittings.

In a bourse filing on Wednesday, Resintech said the five-month contract, which is non-renewable, is expected to be completed by February 2026.

Resintech said the contract will contribute positively to the group’s earnings and net assets for the current financial year ending March 31, 2026, without affecting its share capital or shareholding structure.

For the first quarter ended June 30, 2025, Resintech's net profit rose 41% year-on-year to RM2.6 million from RM1.85 million, as revenue increased 42.5% to RM40.77 million from RM28.6 million. The group said the stronger performance was driven by higher demand for pipe systems.

As at end-June, the group carried total borrowings of RM55.9 million, comprising RM25.9 million in short-term and RM30 million in long-term facilities. Net assets stood at RM214.1 million, translating into net assets per share of 110.14 sen.

Resintech's share price closed up 2.5 sen or 4.95% at 53 sen on Wednesday, bringing the group a market capitalisation of RM103.74 million.