Quick take: Key ASIC rises 16% on new contract

KUALA LUMPUR: Shares in Key Asic Bhd jumped 16% in early trade Tuesday after securing a RM21.22mil contract.

The counter rose 16.67%, or 1.5 sen to 10.5 sen. It is the third most active counter on Bursa Malaysia with 76 million shares traded.

Key ASIC’s wholly owned subsidiary Key ASIC Semiconductor Ltd has entered into a contract worth US$5.25mil (RM21.22mil) with Canvas Technology Pte Ltd.

The project entails the technology and design internet protocol (IP) development and licensing.

"The contract is expected to contribute positively to the net assets per share and earnings per share of Key ASIC and its subsidiaries for the financial years ending May 31, 2021 and May 31, 2022," the company said.

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Key Asic , Canvas Technology


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