George Kent shares up on HK meter supply job

PETALING JAYA: George Kent (Malaysia) Bhd saw its share price hit a high of RM2.80 in morning trade, after it announced the award of a RM28 million supply and delivery of 650,000 water meters to the Water Supplies Department (WSD), Hong Kong yesterday.
Its share price was up 1.82%, trading at RM2.78 as at 12.26pm with some 882,000 shares changing hands. It has a market capitalisation of RM1.57 billion.
The single order of 650,000 water meters from one single client is an enormous order by industry standards, and the largest single order George Kent has ever obtained from a single source over the span of its metering business history.
To-date, George Kent has successfully secured large water meter contracts from both Hong Kong and Singapore water authorities.