JAKS Resources secures RM55.3m Langat 2 piping works contract

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KUALA LUMPUR (Dec 22): JAKS Resources Bhd’s subsidiary JAKS Sdn Bhd has secured package 5 of the proposed Langat 2 Water Treatment Plant and Reticulation System, for the supply and installation of pipes.

According to its statement to Bursa Malaysia, the contract is worth RM55.3 million, for duration of 24 months up to January 2017.

“The contract is expected to contribute positively to the revenue and earnings of JAKS group for the financial year ending Dec 31, 2015, and the following financial years within the duration of the contract,” said the company.

JAKS said the award would have no effect on its gearing or its net asset per share for its current financial year ending Dec 31, 2014.

According to theedgemarkets.com, Jaks’ fundamental score is at 0.35 and its valuation score at 0.9, on the scale of zero to three with three being the best score.

JAKS’ share price rose 3.5 sen or 8.33% to 45.5 sen, giving it a market capitalisation of RM195.07 million.