A YLI worker inspects the company's ductile iron pipes.
KUALA LUMPUR: YLI Holdings Bhd
’s subsidiary Laksana Wibawa Sdn Bhd (LWSB) has been appointed to supply pipes, fittings and related products for the proposed development of the Langat 2 water treatment plant and water reticulation system in Selangor for a provisional sum of RM97.34mil.
In a filing with Bursa Malaysia, the maker of pipes and waterworks-related products said its 51% owned LWSB entered into an agreement on this with the main contractor, Pembinaan Ikhasas-Merak Sdn Bhd, and purchaser Merpatih Trading Sdn Bhd.
LWSB is undertaking to manufacture and/or supply the products to the main contractor and/or purchaser.
The Langat 2 plant, whose development was delayed due to disagreements between the state and Federal governments, is expected to be completed in 2019.
It was reported in 2014 that JAKS Resources Bhd’s subsidiary JAKS Sdn Bhd bagged a RM55.3mil contract to supply and install pipes for the treatment plant. At that time the plant was expected to be completed by April 2017.
In Sept last year, LGB Taliworks Consortium Sdn Bhd, a joint venture between Taliworks Corp Bhd and LGB Engineering Sdn Bhd, clinched a RM75.87mil contract to construct and complete a 92-million litre balancing reservoir for the proposed Langat 2 water treatment plant and water reticulation system.
YLI shares rose by 27.7% to 71.5 sen over four trading days prior to the trading suspension at 9am on Thursday. Trading will resume on Friday.
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