Stella clinches RM33.88 mil water distribution contract in Johor

KUALA LUMPUR (Aug 8): Stella Holdings Bhd, through its wholly-owned subsidiary Mewah Kota Sdn Bhd, has accepted a RM33.88 million contract to improve the water distribution system in Johor from Pengurusan Aset Air Bhd.

In a Bursa Malaysia filing on Monday (Aug 8), the group said the contract is for a period of 18 months and the date of completion shall be on March 18, 2024.

“The contract is expected to contribute positively to the earnings of Stella group for the relevant financial periods within the duration of the contract.

“The contract will not have any effect on the share capital and shareholding structure of Stella,” it said.

Shares in Stella, which is in construction, property development, and oil and gas support services, closed unchanged at 92 sen on Monday, giving it a market capitalisation of RM61.98 million.