KUALA LUMPUR (July 6): Hubline Bhd’s subsidiary Layang Layang Aerospace Sdn Bhd (LLA) has been awarded a RM29 million contract to provide inspection and calibration services for the Civil Aviation Authority of Malaysia (CAAM).

In a filing with the bourse, the group said the contract entails the performance of aviation works, flight and calibration inspections on air navigation equipment, specifically instrument landing system (ILS), doppler very high frequency omni range (DVOR), distant measuring equipment (DME) and non-directional beacon locator (NBD).

It said the contract is for a duration of 60 months from Jan 1, 2022 to Dec 31, 2026.

“The contract announced herein will have no material effect on the issued share capital of the company and is expected to contribute positively towards the earnings of Hubline Group for the financial year ending Sept 30, 2022 and the financial years thereafter, until the expiry of the contract,” it said.

It said none of its directors, substantial and/or major shareholders or any persons connected to them have any direct or indirect interest in the contract.

Hubline closed unchanged at four sen today, with a market capitalisation of RM166.46 million.