OPCOM Holdings Bhd has risen 29.87% at 10.37am after the fiber optic cable maker bagged an RM21.37 mil contract from Telekom Malaysia Bhd to manufacture and supply optical fibre cables.
The contract, awarded to Opcom Cables Sdn Bhd, begins Aug 1 and ends May 20, 2022, Opcom said in a bourse filing yesterday.
“The award is expected to contribute positively towards Opcom Group’s earnings and net assets for the period of the award,” the group said.
But there are risks, Opcom added. They include, but are not limited to, “ordinary business risks, competition risks, operations risks, economic risks and regulatory risks,” the company said.
Opcom also clarified that none of its directors or substantial shareholders and/or subsidiaries or any people connected to them have any interest, direct or indirect, in the award.
Former Kedah menteri besar Mukhriz Mahathir is a substantial shareholder of Opcom with a 21% stake in the company. Mukhriz is also the son of former prime minister Dr Mahathir Mohamad.
At the time of writing, Opcom is valued at RM80.62 mil. – July 24, 2020
