Nova MSC up 6.06% in active trade after clinching Singapore govt contract

PETALING JAYA: Nova MSC Bhd was one of the top active stocks on the bourse this morning after it secured a RM4.65 million contract from the Urban Redevelopment Authority of Singapore.
The stock rose 6.06% or 1 sen to trade at a high of 17.5 sen from its last adjusted closing price of 16.5 sen. At midday, the stock was 3.03% or half sen higher at 17 sen with 18.16 million shares done, making it the fifth most active stock during the morning session.
Under the contract, Nova MSC will implement and provide maintenance support of an Intelligent Code Checking system (ICCS), which involves the adoption of Nova MSC’s cutting-edge FORNAX ePlanCheck system.
FORNAX is a module driven by Artificial Intelligence to automate the checking process of 3D BIM building plans and compute the gross floor area based on GFA handbook.
The contract marks Nova MSC’s second government contract in Singapore after it clinched a RM15.4 million contract from the Public Utilities Board last June.