PETALING JAYA: Ocean Vantage Holdings Bhd
’s 70%-owned subsidiary Ocean Vantage Electrical and Instrumentation Sdn Bhd (Ovei) was awarded a RM4.8mil contract by Bakat Industri Sdn Bhd for the provision of cabling works for a project in Kulim Hi-Tech Park, Kedah.
In a filing with Bursa Malaysia, the group said Ovei was appointed the subcontractor to provide cabling works for the facility management and control system including testing and commission for two buildings located within the facility.
The project will commence on Aug 17, 2022 and will be completed by June 15, 2023.
According to Ocean Vantage, the -project will be funded via internally generated funds and/or borrowings.
"The project is expected to contribute positively to the earnings and net assets of Ocean Vantage and its subsidiaries throughout the duration of the project," it added.
At 4.40pm, shares in Ocean Vantage were trading 0.5 sen or 3.13% lower at 15.5 sen a share on the back of 210,800 units done.
