AE Multi bags RM30.9m palm oil mill contract in Sabah

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KUALA LUMPUR (Oct 16): AE Multi Holdings Bhd, which has a market capitalisation of RM36.23 million based on its closing share price today, has bagged a sub-contract worth RM30.88 million to construct a palm oil mill with biogas plant system, which will also have a polishing as well as a composting plant, in Sabah.

According to the company’s stock exchange filing today, its unit AE Resources Development Sdn Bhd (AER) has received and accepted the letter of award (LoA) from Vertice Bhd’s wholly-owned Vertice Construction Sdn Bhd (VCSB), which appointed AER as the project’s sub-contractor.

The 24-month contract includes the provision of labour, materials, tools, equipment, machinery and all necessary supply for earthworks, civil and structural works, as well as mechanical and electrical works in relation to the project, said AE Multi.

AE Multi, which makes printed circuit boards and provides waste water treatment facilities and waste water recycling services, reported RM61.19 million in revenue for its financial year ended Dec 31, 2018, with a net loss of RM2.08 million.

AE Multi’s shares settled 1 sen or 10% higher at 11 sen yesterday. The stock has traded between 8 sen and 14 sen in the past 52 weeks.