KUALA LUMPUR (Oct 12): G Capital Bhd has been appointed as a non-revenue water (NRW) specialist for a project in Kota Samarahan, Sarawak.
In a bourse filing, G Capital said its 51%-owned subsidiary G Capital Water Solutions Sdn Bhd received a letter of award from main contractor Exxor Technologies Sdn Bhd on Tuesday (Oct 11), appointing the unit as a NRW specialist for a "70km leak detection and pipe inspection" for the Sarawak Rural Water Supply Department.
Kuching-based Exxor Technologies is involved in the supply and installation of industrial machinery equipment.
The project is expected to contribute positively to G Capital’s earnings for the financial year ending Dec 31, 2022, and is estimated to be completed within two months from October 2022.
For the cumulative six months ended June 30, 2022, G Capital posted a net loss of RM8.52 million, versus a net profit of RM798,000 a year ago, in spite of an increase in revenue to RM11.83 million from RM4.12 million.
Its shares closed half a sen or 1.06% higher at 47.5 sen on Wednesday, translating into a market capitalisation of RM152.33 million.
Source: TheEdge - 13 Oct 2022
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