KUALA LUMPUR (Sept 14): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:
Kelington Group Bhd (KL:KGB) has secured a contract worth a provisional RM1.83 billion that marks the largest ever job for the engineering services firm. The contract will see Kelington building a turnkey total facility tool hookup services for a semiconductor wafer fabrication facility in Gujarat, India, the company said in an exchange filing. Works are expected to begin this month and be completed by February 2029. — Kelington secures RM1.83 bil job, its biggest ever
NuEnergy Holdings Bhd (KL:NHB) said it is investing in solar photovoltaic (PV) facilities worth RM48.8 million across 49 rooftop sites at the premises of a government agency. NuEnergy said its wholly-owned unit, IL Energy Sdn Bhd, will acquire and retain ownership of the solar PV systems, which will form part of the renewable energy group's portfolio of owned renewable energy assets. The development of the facilities with an aggregate capacity of 21 megawatt-peak will be undertaken by the subsidiary of the government agency as the main engineering, procurement, construction and commissioning contractor. — NuEnergy to invest RM49m in rooftop solar project at govt agency
GFM Services Bhd (KL:GFM) said on Monday it has received an additional release order worth RM37.4 million for major turnaround works at the Pengerang Integrated Complex in Johor. In a bourse filing, GFM said the additional works, awarded to its 60%-owned subsidiary Shapadu CR Asia Sdn Bhd by Pengerang Refining Company Sdn Bhd, raises the contract value to RM104.16 million from RM66.77 million. — GFM bags additional RM37m contract for turnaround works at Pengerang Integrated Complex
Exsim Hospitality Bhd (KL:EXSIMHB) has secured RM42.48 million worth of subcontract works to supply, install, test and commission building services and carry out general building works. The group said its subsidiary Exsim Concepto Sdn Bhd, which specialises in specialised fit-out services for hospitality property assets, was awarded the contract by Taghill Projects Sdn Bhd. The group said that works will begin on Sept 15 and run for a duration of 24 months. — Exsim Hospitality secures RM42.5 mil building works subcontract
Kerjaya Prospek (M) Sdn Bhd, a wholly owned subsidiary of Kerjaya Prospek Group Bhd (KL:KERJAYA), has been awarded a RM37.82 million contract from Persada Mentari Sdn Bhd related to an affordable housing project in Penang. The group said the contract is for piling and substructure works for a 38-storey block of apartments at Bandar Tanjung Pinang in George Town, Penang. Work is scheduled to begin on Oct 1 and is estimated to be completed within 24 months. — Kerjaya Prospek wins RM37.8 mil contract for Penang affordable housing project
PETRONAS Chemicals Group Bhd (KL:PCHEM) rose to a three-month high amid a rally in petrochemical refiners as oil prices surged amid renewed conflict in the Middle East. Brent, the global benchmark for crude oil, extended its gains above US$100 while West Texas Intermediate, which guides US markets, rose to US$103 per barrel, boosting hopes for higher petrochemical prices and spreads. — PETRONAS Chemicals rises to three-month high, refiners climb as Brent tops US$100
Tan Chong Motor Holdings Bhd (KL:TCHONG) has signed a three-year agreement with Perodua to support its battery electric vehicle project in Serendah. Under the agreement, Tan Chong’s subsidiary Tan Chong Motor Assemblies Sdn Bhd will provide electro-deposition coating and painting services, as well as assembly line rental and related services, to Perodua Sales Sdn Bhd. The master agreement, which sets out the general terms of the partnership, is effective from June 1, 2026 to May 31, 2029. — Tan Chong Motor signs three-year agreement to support Perodua EV production
United Asiapac Energy Bhd (KL:UNIPAC) ended its first trading day on the ACE Market 11.4% lower than its opening price on Monday. The counter opened at its initial public offering price of 35 sen and dipped soon after. It hit an intraday low of 29.5 sen before closing at 31 sen with about 40.8 million shares changing hands. United Asiapac Energy delayed its listing by about a month than the originally planned Aug 19 after it announced it would issue a supplementary prospectus with clarifications and details on a new contract secured by the group. — United Asiapac Energy ends ACE Market debut 11.4% lower