Kejuruteraan Asastera secures two contracts worth RM23.8 million

PETALING JAYA: Kejuruteraan Asastera Bhd (KAB), which made debut on Bursa Malaysia last Friday, has clinched two contracts with a combined value of RM23.8 million.
It told Bursa Malaysia that the contracts are for the provision of electrical engineering services for two residential projects, namely Greenfield Residence in Bandar Sunway and Cerrado (Phase 1) in Sepang for RM9.8 million and RM14 million respectively.
KAB will act as a nominated subcontractor for the complete supply, delivery, installation, testing and commissioning of the electrical system for Greenfield Residence, a three-tower apartment complex. It is expected to be completed by April 30, 2020.
Meanwhile, for the Cerrado project, it involves the provision of electrical engineering and extra low voltage services. Cerrado is a serviced residence that has two blocks of serviced apartments, five units of three-storey villas along with recreational and commercial facilities. The services are to be completed by February 10, 2020.
Both jobs are expected to contribute positively to KAB's future earnings for the duration of the respective contracts.
At 2.40pm, the stock fell 1.5 sen or 5.3% to 27 sen on some 22.98 million shares done.