Naim Indah shares jump 20% despite negative impact from aborted contract

PETALING JAYA: Naim Indah Corp Bhd’s share price jumped 20% this morning despite the group’s warning of a negative impact from the termination of a consultancy contract.
At 11.09am, its share price rose 20% or 1 sen to 6 sen with a total of 21.05 million shares changing hands, making it the top 10 most actively traded stock this morning.
Yesterday, the group said that the termination of a contract to provide project management consultancy would have negative impact on its revenue and profit for the financial year ending Dec 31, 2017.
The contract, valued at an estimated RM18 million, was awarded to the group in February 2015 for the provision of project management consultancy for a mixed development project in Klang.