KUALA LUMPUR (March 17): Electrical and mechanical engineering services provider Kejuruteraan Asastera Bhd (KAB) has bagged two electrical engineering contracts worth RM14.7 million.
According to a statement to Bursa Malaysia today, it has received two letters of acceptance (LOAs) from Binastra Ablebuild Sdn Bhd and Pembinaan Tuju Setia Sdn Bhd for supplying, delivering, installing, testing and commissioning of electrical services.
"Pursuant to the LOA received from Binastra Ablebuild, KAB is required to provide the electrical services for the 46-level serviced apartment, Trion2, which is developed by Binastra Land Sdn Bhd, situated off Jalan Chan Sow Lin in Kuala Lumpur. This contract is expected to be completed by Aug 31, 2023.
"The contract from Pembinaan Tuju Setia, in turn, entails the provision of electrical services, as well as street lighting, earthing and lighting protection services for the 44-level serviced apartment, known as The Pulse Residence, which is being developed by BRDB Developments Sdn Bhd, located at Bandar Puteri, Puchong, Petaling Jaya. This contract is expected to be completed by Aug 3, 2024," the group explained.
KAB said these projects are anticipated to contribute positively to the company's earnings until the financial year ending Dec 31, 2024 (FY24).
"We look forward to building and strengthening our strong business relationships through these awards and will continue our efforts to replenish our order book. In line with our values, rest assured that we will deliver our services with top quality and in a timely manner to our clients, without compromising on the safety of our employees," said KAB managing director Datuk Lai Keng Onn.
At market close, KAB was up two sen or 1.18% to RM1.71, valuing the group at RM1.61 billion.