KUALA LUMPUR (Jan 30): ACE Market debutant HE Group Bhd has bagged a RM34.79 million contract from an undisclosed semiconductor component maker for a low-voltage power distribution system.

According to HE Group’s bourse filing on Tuesday (Jan 30), its wholly owned Hexatech Engineering Sdn Bhd was awarded the contract, which involves the design, supply, installation, testing and commissioning of the low-voltage power distribution system.

“The work order will commence on Jan 31, 2024 (Wednesday), and is expected to be completed by April 30, 2024,” the company said.

As for the identity of the customer, it only said it is a unit of a leading global semiconductor provider listed on the Frankfurt Stock Exchange.

The power distribution system provider, which was listed on the ACE Market on Tuesday, closed at 32.5 sen on its debut trading day — up 4.5 sen or 16.1% from its initial public offering price of 28 sen — giving it a market capitalisation of RM143 million.