CEO Morning Brief

PJBumi Shares Gain 37% to Seven-month High After MyDigital ID Job Win

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Publish date: Tue, 25 Jun 2024, 10:57 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (June 24): Shares in PJBumi Bhd (KL:PJBUMI) rose to their highest in seven months, after the engineering and construction company secured a contract to provide physical onboarding services for MyDigital ID.

PJBumi gained as much as 37% or 26.5 sen to 98 sen, its highest since Nov 16, 2023, on Monday morning. The stock then pared its gains to close at 85 sen, up 13.5 sen or 18.9%, valuing the company at RM69.7 million on Bursa Malaysia. Trading volume totalled 1.36 million shares.

In a bourse filing last Friday, PJBumi said its unit PJBumi Heavy Engineering & Services Sdn Bhd had accepted a letter of award for the contract from Mimos Semiconductor (M) Sdn Bhd.

The onboarding service is for 24 months, and is expected to have started last Friday, and last until June 20, 2026.

The contract price is RM100,000 for 500-unit touch-point device setup, and RM1.70 for every successful physical onboarding to MyDigital ID.

Source: TheEdge - 25 Jun 2024

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