KUALA LUMPUR (Oct 13): Critical Holdings Bhd (KL:CHB) said an additional RM74.1 million has been added to the value of the contract it secured from an undisclosed US-based multinational corporation to build a cleanroom facility at Kulim Hi-Tech Park in Kedah.
The total contract value has now been revised up by nearly 49% to RM226.68 million from the initial RM152.59 million following a modification to its job scope, the underground utilities and substation engineering firm said in a bourse filing on Tuesday.
Other terms and conditions of the job that was awarded by the multinational corporation that supplies wafer fabrication equipment and services to the semiconductor industry remain unchanged, it added.
Critical Holdings got the job in May this year via its wholly owned Critical Engineering Solutions Sdn Bhd. The seven-month job, which began on May 11, is slated for completion by Dec 25.
Its previously announced job scope includes cleanroom architecture as well as mechanical, electrical and process utilities services.
Critical Holdings’ shares have been on a steep climb since the middle of this year, when it secured a RM772.49 million engineering, procurement and construction contract on June 30 for the development of a high-technology industrial facility at the Kulim Hi-Tech Park in Kedah.
The value of that contract — also awarded by a US-based multinational corporation that supplies wafer fabrication equipment and services to the semiconductor industry — is nearly 10 times the average contract size won by Critical Holdings.
The announcement prompted a slew of analyst revisions in earnings forecasts and target prices on the group.
Critical Holdings closed seven sen or 2.55% higher at RM2.82, valuing the company at RM1.15 billion. The stock has climbed 158.7% from RM1.09 at end-June, and over 213% since the start of the year.