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BUSINESS

Stella's subsidiary bags RM33.88 mln contract from PAAB

08/08/2022 07:05 PM

KUALA LUMPUR, Aug 8 (Bernama) -- Stella Holdings Bhd’s wholly-owned subsidiary, Mewah Kota Sdn Bhd, has accepted a RM33.88 million contract to improve the water distribution system in Johor from Pengurusan Aset Air Bhd (PAAB).

In a filing with Bursa Malaysia today, it said the contract is for a period of 18 months and the date of completion shall be on March 18, 2024.

“The contract is expected to contribute positively to the earnings of Stella group for the relevant financial periods within the duration of the contract.

“It will not have any effect on the share capital and shareholding structure of Stella,” it said.

The contract is for the improvement of water distribution system in Parit Markom and Benut, Pontian; Kg Maju Jaya in Johor Bahru; Pasir Gogok in Kota Tinggi; as well as improvement of Tangki Larkin Perdana in Johor Bahru.

-- BERNAMA

 

 


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