KUALA LUMPUR (June 21): CB Industrial Product Holding Bhd (CBIP) has won a RM76.24 million contract from Malaysia Airports Sdn Bhd for the supply of airport fire vehicles.
In a filing today, the group said its 49%-owned subsidiary AVP Engineering (M) Sdn Bhd has received a letter of award (LoA) for the contract, which entails the supply, delivery, testing and commissioning of 17 units of airport fire vehicles, including comprehensive maintenance for Malaysia Airports.
The supply package, valued at RM68.93 million, is expected to be completed by March 2023, while the service package, worth RM7.3 million, is targeted to be completed by March 2038.
"The LoA will not have any effect on the share capital and substantial shareholding structures of CBIP. The LoA however is expected to contribute positively to the earnings and net assets per share of CBIP for the financial year ending Dec 31, 2019, onwards until the completion of the works," said the company.
It said it does not see any exceptional risk other than the normal operational risk associated with the works.
CBIP's share price fell 1 sen or 1.01% to close at 98.5 sen, giving a market capitalisation of RM530.17 million.
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