Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Sept 17): Jaks Resources Bhd saw some 6.39 million shares, representing a 1.45% equity stake in the company, traded off market today.

According to Bloomberg data, the shares were traded in five blocks at 99.5 sen apiece or RM6.36 million in total. However, it is not known as to whom the buyers and sellers of the shares were.

On Tuesday (Sept 15), Jaks had received its shareholders’ approval for its joint venture with China Power Engineering Consulting Group Co, to develop and run a 1,200-megawatt thermal power plant in Vietnam for a 25-year concession period.

The project is expected to cost US$1.87 billion and is expected to contribute to the group’s earnings next year.

The group is also expected to recognise a total of US$454 million revenue from the engineering, procurement and construction (EPC) contract, during the construction period, commencing 2020.

Jaks' shares rose 14.5 sen or 14.87% to close at RM1.12 today, giving it a market capitalisation of RM427.4 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.)

      Print
      Text Size
      Share