KKB Engineering up 3.5% on EPCC job from Petronas Carigali

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KUALA LUMPUR (Aug 6): KKB Engineering Bhd reversed a decline of 0.59% seen in early trade to rise 3.5% to 87.5 sen at 3.39pm today, following the announcement of the engineering, procurement, construction and commissioning (EPCC) works for D18 JT-D wellhead platform off Malaysia last month, which together with the D28 Phase 1 project have a total contract value of RM226 million.

As of writing, more than 165,000 shares were traded, which was more than three times its 30-day average volume of about 47,866 shares.

At its current level, the group's market capitalisation is at about RM226.9 million, which is similar to the total contract value won from Petronas Carigali Sdn Bhd.

The group's share price has been on a decline post-GE14. Prior to the polling date, KKB Engineering was trading at about 93 sen. Since then, it has fallen by about 12.9% to 81 sen.

Compared to a year ago, KKB Engineering's share price has fallen by 16% to its current level.