Sunday 19 May 2024
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KUALA LUMPUR (July 15): Kelington Group Bhd said today its wholly-owned subsidiary Kelington Technologies Sdn Bhd yesterday secured from Stolthaven (Westport) Sdn Bhd an approximately RM50 million contract to construct oil products storage tanks at Port Klang in Selangor.

According to Kelington Group's Bursa Malaysia filing today, the 15-month project, which started yesterday (July 14, 2021) is expected to be completed by October 2022.

"The contract value is worth approximately RM50 million subject to the final variation and engineering options.

"The contract is expected to contribute positively to the earnings and net assets of Kelington (Group) for the financial years ending Dec 31, 2021 and Dec 31, 2022," Kelington Group said.

At Bursa's 12.30pm break today, Kelington Group's share price rose one sen or 0.86% to settle at RM1.17, valuing the group at about RM752.32 million.

Kelington Group has 643.01 million issued shares.

Edited ByChong Jin Hun
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