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KGB (0151): KELINGTON GROUP BHD bags RM40m job to build gas systems distribution works for Singapore fab

KUALA LUMPUR (Oct 5): Kelington Group Bhd (KGB) has bagged a contract worth RM40 million to build specialty gas systems distribution works for a new fab in Singapore.

In a bourse filing on Tuesday, KGB said its indirect wholly-owned subsidiary Puritec Technologies (S) Pte Ltd had received the contract to design and build the exhaust distribution ductwork.

It said the works shall commence in mid-October 2021 and are expected to be completed by December 2022.

To recap, on Aug 18, KGB had said its unit Kelington Engineering (S) Pte Ltd (KES) had received an award of contract from a global player in engineering and project management of high-technology facilities to undertake the specialty gas systems distribution works for GlobalFoundries’ new fab in Singapore.

Subsequently, on Sept 6, KGB had said KES had secured a job worth RM49 million to undertake the bulk gas system distribution works for a global semiconductor manufacturer’s new fab in Singapore.

KGB said the contract is expected to contribute positively to its earnings for the financial year ending Dec 31, 2022.

KGB was last traded at RM1.65, valuing it at RM1.07 billion.

http://www.theedgemarkets.com/article/kelington-bags-rm40m-job-build-gas-systems-distribution-works-singapore-fab

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