KUALA LUMPUR: Kejuruteraan Asastera Bhd (KAB) rose in early trade Tuesday after securing a solar photovoltaic (PV) contract from Mydin Wholesale Emporium Sdn Bhd.
The electrical and mechanical engineering services provider rose 2.42%, or two sen to 84.5 sen with 10.6 million shares traded.
KAB said its unit KAB Smart Solar Energy Sdn Bhd had received a letter of award from Mydin Wholesale.
Under the contract, KAB will instal the solar system at the mall, the largest Mydin mall in Malaysia and it is scheduled to achieve commercial operation by the third quarter of 2022.
This project is expected to reduce energy cost by about RM50mil and neutralise 33,105 tonnes of carbon dioxide emission over 25 years, which will generate about 142 million-kilowatt hours of renewable electricity.
To date, KAB has a combined installed capacity of 10,463-kilowatt peak photovoltaic solar systems, which include the recent power purchase agreements signed with Tanaosree Thai Chicken Co Ltd, Aapico PCL and Roongthavorn Plastic Co Ltd.