PETALING JAYA: Steel products maker Colform Group Bhd has awarded four contracts worth RM1.33mil to a private company owned by the Kang family, its controlling shareholder.
The contracts relate to the construction of a new storage facility located adjacent to the Colform’s existing Kota Kinabalu factory, and the establishment of a new colour coil coating production line at the Kota Kinabalu plant.
In a filing with Bursa Malaysia, Colform said its subsidiary Colform Sdn Bhd hadawarded two contracts to Enviro Engineering Sdn Bhd (EESB) to supply labours and fire fighting services for the new storage facility. These amount to RM859,086.
Meanwhile, another subsidiary Colform Steel Sdn Bhd awarded contracts to EESB for labour supply and the installation of the carbon dioxide total flooding system for high voltage rooms.
The contracts, which are for the new colour coil coating production line, are valued at RM475,000.
Colform said the contracts would be paid using the proceeds raised from its initial public offering earlier in February this year.
