APFT bags RM32.79m job

-A +A

This article first appeared in The Edge Financial Daily, on September 23, 2015.


KUALA LUMPUR: Flight academy operator APFT Bhd has clinched a job to erect structural steel and mechanical equipment installation from Flexsys Chemicals (M) Sdn Bhd (Flexsys), valued at RM32.79 million.

In a filing with Bursa Malaysia yesterday, APFT said its unit, PT Technic (M) Sdn Bhd, 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, and related works.

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

“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.

APFT expects the work to contribute positively to its earnings and net assets for the financial years ending March 31, 2016 and 2017.

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