Kelington bags RM114 mln contract to build semiconductor manufacturing plant in Johor
16 Jun 2022
Kelington Group Bhd’s wholly-owned unit, Kelington Technologies Sdn Bhd, has bagged a contract worth about RM114 million to build a manufacturing plant in Johor.
In a filing with Bursa Malaysia today, the integrated engineering solutions provider said the contract was awarded by a Franco-Italian multinational electronics and semiconductors manufacturer.
It said under the contract, Kelington Technologies would undertake the design, engineering and construction work on a new manufacturing building which consists of a manufacturing (plating) area, mechanical and electrical utility plant, and a multi-storey car park to the existing plant in Johor.
“The work is scheduled to commence in June 2022 and is expected to be completed by December 2023,” it said.
Kelington said the contract is expected to contribute positively to the earnings and net assets of the group for the financial years ending Dec 31, 2022 and 2023.
In a separate statement, the company said inclusive of this contract win, it has thus far clinched new orders amounting to RM700 million year-to-date, bringing the group’s outstanding order book to RM1.6 billion as of mid-June 2022.
Chief executive officer Raymond Gan said the latest project win serves as a good testament to the group’s robust track record in completing projects with a high level of technicality in the semiconductor field.
“Aside from our foreign markets, we continue to see abundant opportunities in Malaysia as it remains a key investment destination for international electronics and electrical multinational corporations,” he said.
Source: Bernama
