Quick take: KAB hit one-year high in early trade


KUALA LUMPUR: Kejuruteraan Asastera Bhd (KAB) rose in early trade Tuesday after securing a RM23.4mil contract.

The counter rose three sen, or 1.74% to RM1.75, its highest since February 2020.

KAB has secured a contract worth RM23.4mil from CNQC Engineering & Construction (Malaysia) Sdn Bhd for design, supply and maintenance work in Agile Embassy Garden, Kuala Lumpur.

Agile Embassy Garden comprises three towers of 64-storeys each with 1,296 serviced apartments and retail units.

The contract came into effect on Monday and it is expected to be completed by Oct 31,2023.

With this contract, KAB’s orderbook is increased to about RM390mil and will provide earnings visibility for the next few years, he said.

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Kejuruteraan Asastera , KAB , Agile Embassy

   

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