KUALA LUMPUR (June 30): Critical Holdings Bhd (KL:CHB) has bagged an  engineering, procurement and construction contract worth RM772.49 million for the development of a high-technology industrial facility at the Kulim Hi-Tech Park in Kedah.

The contract was awarded by a US-based multinational corporation that supplies wafer fabrication equipment and services to the semiconductor industry, said Critical Holdings in a bourse filing on Tuesday without naming the company.

The contract covers the development of a state-of-the-art industrial facility incorporating an automated storage and retrieval system (ASRS) warehouse and supporting infrastructure.

Work commenced on June 15 and is scheduled for completion by Dec 15, 2027, said Critical Holdings.

The mechanical, electrical and process utilities engineering group said the contract is expected to contribute positively to its earnings and net assets for the financial years ending June 30, 2027 and June 30, 2028.

Critical Holdings' share price closed eight sen or 7.92% higher at RM1.09 on Tuesday, giving the group a market capitalisation of RM1.48 billion. The stock has risen 25% since end-December last year.