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KUALA LUMPUR (Sept 23): APB Resources Bhd has bagged a purchase orders contract worth RM11.8 million that entails mechanical engineering, and procurement and construction of pressure vessels and heat exchangers.
In a Bursa Malaysia filing on Friday (Sept 23), APB said its wholly owned subsidiary Amalgamated Metal Corporation (M) Sdn Bhd has received and accepted the orders from Desmet Ballestra (M) Sdn Bhd.
“The work and services to be performed under the contract are within the business scope of the fabrication division of the group and the risks are the normal operational risks associated with the said business,” it said.
The contract, which is estimated to be completed within eight months, is expected to impact the group's earnings for the financial year ending Sept 30, 2023.
APB is involved in the fabrication of specialised design engineering equipment for petrochemical processes, chemicals, oil palm processing, paper mills, and power generation, and the provision of non-destructive testing services, according to its official website.
APB’s share price finished nine sen or 8.5% higher at RM1.15, giving the group a market capitalisation of RM129.8 million.
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