Progressive Impact bags RM12.8m contract from Syabas

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KUALA LUMPUR (Aug 19): Progressive Impact Corp Bhd has bagged a contract worth RM12.8 million from Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) to supply and install water quality online analysers within Selangor, Kuala Lumpur and Putrajaya’s distribution system.

“The contract sum is based on the quality and quantity of the works, as set out in the bills of quantities as provided in the tender document,” Progressive Impact said in a filing to the stock exchange today.

The two-year contract is awarded to its wholly-owned subsidiary Alam Sekitar Malaysia Sdn Bhd (ASMA), Progressive Impact said, adding that the award is a continuity of the existing business that ASMA has with Syabas.

To-date, ASMA has supplied 60 water quality online analyzers for Syabas, the first state water company in the country to install the analysers.

Progressive Impact’s share price was last traded at 11.5 sen, valuing the company at RM75.67 million.