KUALA LUMPUR, Malaysia (July 6): The Civil Aviation Authority of Malaysia has granted Hubline Bhd’s subsidiary Layang Layang Aerospace Sdn Bhd (LLA) an RM29 million contract to perform inspection and calibration services (CAAM). The contract entails performing aviation works, flight and calibration inspections on air navigation equipment, specifically the instrument landing system (ILS), doppler very high frequency omni range (DVOR), distant measuring equipment (DME), and non-directional beacon locator, according to a filing with the bourse (NBD).
The deal will last 60 months, from January 1, 2022, to December 31, 2026, according to the company.
“The contract announced herein will have no major effect on the company’s issued share capital and is projected to contribute positively to Hubline Group’s earnings for the fiscal year ending September 30, 2022 and subsequent fiscal years until the contract expires,” it said.
It said that none of its directors, substantial and/or large shareholders, or any of their associates have any direct or indirect interest in the contract.
Hubline’s share price remained constant at four sen Wednesday, valuing the company at RM166.46 million./n
