KUALA LUMPUR (Sept 22): Flight academy operator APFT Bhd has clinched an equipment installation job from Flexsys Chemicals (M) Sdn Bhd (Flexsys), valued at RM32.79 million.

In a filing with Bursa Malaysia today, APFT said its unit, PT Technic (M) Sdn Bhd, had on Sept 12 entered into an agreement with Flexsys, in relation to the deal.

Under the contract, APFT is required to furnish all labour, supervision, equipment, materials, services and all other things necessary to supply, fabricate and erect structural steel and mechanical equipment installation works and related works.

According to the group, the job is part of or associated with project Kuantan 2nd Crystex (K2C), which is to be constructed on the land at Flexsys's plant, located in Kuantan, Malaysia.

"The work shall be completed on Nov 28, 2016," APFT said.

Flexsys is a rubber chemicals producer and is currently running a crystex insoluble sulfur plant in Kuantan, Pahang.

On earnings impact, APFT expects the work to contribute positively to its earnings and net assets for the financial year ending March 31, 2016 (FY16) and 2017 (FY17).

Shares in APFT inched up one sen or 2.22% to close at 23 sen today, for a market capitalisation of RM88.58 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)