KUALA LUMPUR: JAG Bhd
’s wholly owned subsidiary, Jaring Metal Industries Sdn Bhd (JMI) has secured a total waste management services contract worth a total of RM150mil from Infineon Technologies (M) Sdn Bhd.
In a filing with Bursa Malaysia, JAG said under the agreement, JMI will be providing total waste management services to Infineon, where JMI will manage all types of waste or by-products generated from Infineon's production activities, including scheduled waste, non-scheduled waste and critical scrap.
“The agreement is for a period of three years commencing from Aug 1, 2023 and is valued at approximately RM50mil per year, subject to the terms and conditions stated in the agreement,” JAG said.
JAG said the agreement is expected to contribute positively to the group’s overall earnings as well as earnings per share.
