KUALA LUMPUR (June 9): Safety equipment manufacturer Fitters Diversified Bhd said its unit has bagged a central purchase contract to supply Hypro Oriented PVC (PVC-O) pipes.
In a statement to Bursa Malaysia, it said its subsidiary Molecor (SEA) Sdn Bhd (Molecor SEA) received a letter of acceptance of the contract from Pengurusan Aset Air Bhd (PAAB).
It said Molecor SEA will supply Hypro PVC-O pipes over a period of 24 months with a provisional quantity of approximately 290 km to PAAB.
The contract will commence on July 1, 2021, and is expected to contribute positively to the group’s financial performance in the financial years ending Dec 31, 2021 to 2023.
According to the group, PAAB will facilitate the purchase of pipes manufactured by Molecor SEA in Gebeng to be used in their projects for pipe rehabilitation and replacement programmes.
“The contract entails the supply of Hypro PVC-O pipes with 16 bar pressure rating, with sizes ranging from 110 to 630 millimetres in diameter. Molecor’s Hypro PVC-O pipes are approved by SIRIM and National Water Services Commission (SPAN) for use in the water supply and sewerage industry.
“Additionally, Hypro PVC-O pipes are the only pressure pipes in Malaysia to receive the SIRIM Eco-Label and MyHijau mark from Malaysia Green Technology and Climate Change Center (MGTC), attesting to our pipes alongside with the other environmentally-friendly products in the market,” it said.
Fitters Diversified said this deal is testament to the continued working collaboration between PAAB and Molecor SEA since 2018.
To date, Hypro PVC-O pipes have been supplied to various PAAB projects in Johor and Kelantan to replace more than 350 km of old and aging asbestos cement pipes.
Moving forward, the group said Molecor SEA will foster closer ties with PAAB in supplying more projects across Malaysia, bringing better and healthier water infrastructure to the community.
Fitters Diversified closed three sen or 9.84% higher at 33.5 sen, giving it a market capitalisation of RM160.97 million.
