KUALA LUMPUR (May 22): Underground utilities and substation engineering company Critical Holdings Bhd (KL:CHB) has secured a RM152.59 million engineering, procurement and construction contract for a cleanroom facility at Kulim Hi-Tech Park in Kedah.
In a filing with Bursa Malaysia, the group said the contract was awarded to its wholly-owned subsidiary, Critical Engineering Solutions Sdn Bhd, by a US-based multinational corporation involved in supplying wafer fabrication equipment and services to the semiconductor industry.
The identity of the client was not disclosed.
The scope of works includes cleanroom architecture as well as mechanical, electrical and process utilities services. The project commenced on May 11 and is slated for completion by Dec 25, spanning about seven months.
The group said the contract is expected to contribute positively to the group’s earnings and net assets for the financial year ending June 30, 2027.
Previously, in February, Critical Holdings secured a RM34.97 million contract to construct a cleanroom production floor at a manufacturing facility in the Batu Kawan Industrial Zone, Penang, also for an undisclosed US-based multinational corporation.
At Friday’s noon break, its shares rose five sen or 5.62% to 94 sen, valuing the group at RM293.67 million. The stock has gained over 38% in the past 12 months and is up 169% from its initial public offering price of 35 sen when it listed on the ACE Market in December 2023. It was transferred to the Main Market in October last year.