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KUALA LUMPUR, July 15: Kelington Group Bhd announced today that its wholly-owned subsidiary Kelington Technologies Sdn Bhd had obtained an RM50 million contract from Stolthaven (Westport) Sdn Bhd to construct oil products storage tanks at Port Klang in Selangor.
The 15-month project, which began yesterday (July 14, 2021), is projected to be finished by October 2022, according to Kelington Group’s Bursa Malaysia report today.
“Subject to final modification and engineering options, the contract value is estimated to be around RM50 million.”
“The contract is expected to positively contribute to Kelington (Group) profits and net assets for the financial years ending December 31, 2021 and December 31, 2022,” Kelington Group stated.
Kelington Group’s share price gained one sen or 0.86 percent to RM1.17 at Bursa’s 12.30pm break today, valuing the company at around RM752.32 million.
Kelington Group has a total of 643.01 million shares in circulation.
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