CEO Morning Brief

Kelington Bags RM170 Mil Construction Job at Chip Manufacturing Facility in Kuching

Publish date: Wed, 11 Jan 2023, 12:31 PM
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TheEdge CEO Morning Brief

KUALA LUMPUR (Jan 10): End-to-end integrated engineering services provider Kelington Group Bhd has secured a RM170 million contract to undertake construction works at an integrated chip manufacturing facility at the Sama Jaya Free Industrial Zone in Kuching, Sarawak.

The contract was awarded to its wholly-owned subsidiary Kelington Technologies Sdn Bhd by “a global supplier of micro-electronic semiconductor solutions”, the group said in a stock exchange filing.

The construction works, which include architectural, structural, civil, mechanical, electrical and other process utility works, is expected to be completed by March 2024, said Kelington.

It added that the contract value of RM170 million is subject to the actual amount of work carried out, depending on variation orders, scope options and value engineering.

Kelington said the contract is expected to contribute positively to its earnings for the financial year ending Dec 31, 2023 (FY2023) and FY2024.

Shares in Kelington closed unchanged at RM1.47 on Tuesday (Jan 10), giving the group a market capitalisation of RM948.51 million.

Source: TheEdge - 11 Jan 2023

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