KPS bags RM18.14mil contract to supply water meters

KUALA LUMPUR: Kumpulan Perangsang Selangor (KPS) Bhd has secured a RM18.14mil contract to supply and deliver water meters for new development, meters migration and replacement programme.

KPS, in a filing with Bursa Malaysia, said its 51%-owned subsidiary, Aqua-Flo Sdn Bhd (AFSD) had entered into a framework agreement with Pengurusan Air Selangor Sdn Bhd (Air Selangor) for the supply and delivery of water meters.

The contract is for a period of 12 months commencing from Jan 1 to Dec 31, 2022.

Air Selangor has the option to extend the contract period for a further term of six months.

There is a performance bond equivalent to 5% of the estimated contract sum to be delivered to Air Selangor by AFSB prior to the commencement date.

"The contract is expected to contribute positively to KPS group’s earnings and net assets for the financial year ending Dec 31, 2022, throughout the duration of the contract," KPS said.