Flexidynamic secures RM12.4mil contract, sees emergence of new shareholder

KUALA LUMPUR: Flexidynamic Holdings Bhd has received a letter of award worth RM12.4mil from Usaha Pammek Sdn Bhd for the supply and installation of mechanical and electrical works for the water treatment plant and intake at Loji Rawatan Air Bukit Chupak, Jajahan Gua Musang, Kelantan.

In a statement, the company said the contract underscores Flexidynamic's expanding capabilities beyond the company’s traditional focus, moving into critical infrastructural developments within Malaysia.

Managing director Tan Kong Leong said this project underscores its commitment to delivering substantial value to shareholders and highlights its readiness to capitalise on the opportunities presented by the recovering glove industry.

“Our team is well-prepared and eager to demonstrate our capabilities in this new venture, ensuring the highest standards of execution and contributing to the sustainable development of Malaysia's infrastructure."

In related news, Flexidynamic also welcomed SEA Capital Holding Sdn Bhd as a substantial shareholder, holding a 5.01% stake in the company.

“This new partnership is poised to further strengthen Flexidynamic's market position and accelerate its growth trajectory,” said the company.

The SEA Capital managing director Datuk Hooi Jia Hao said: “Our investment reflects our confidence in Flexidynamic's strategic direction and its potential for further expansion. We believe that Flexidynamic's innovative approach to engineering solutions, coupled with its expanding footprint in infrastructure projects, positions the company well for sustainable growth. We look forward to contributing to Flexidynamic's journey and delivering value to all stakeholders involved."