Kejuruteraan Asastera bags another M&E job from property developer

2021 has been a bountiful year for electrical and mechanical engineering-based Kejuruteraan Asastera Bhd.

The company has received two letters of appointment (LOAs) from China Construction Yangtze River (M) Sdn Bhd (CCYRM) with a total contract value of RM17.90 mil.

Under the LOAs which are divided into two packages – Package A and Package B – KAB has been appointed as the nominated sub-contractor for electrical installation works for three blocks of mixed development by Multibay Development Sdn Bhd at Jalan Tun Razak, Kuala Lumpur.

The job scope encompasses supplying, delivering, installing, testing and commissioning of electrical services within the said development.

Package A involves the electrical installation works for a 28-storey office block and a 60-storey condominium suite, while Package B entails the electrical installation works for a 37-storey hotel. Both packages are expected to be completed by Oct 31, 2023.

“We are delighted and honoured to be able to secure contract awards continuously since early this year,” commented KAB’s managing director Datuk Lai Keng Onn.

“The contracts from CCYRM fundamentally add on to KAB’s credentials and reinforcing our track record in the M&E sector.”

Last month, KAB was awarded with mechanical and electrical engineering (M&E) works from Binastra Ablebuild Sdn Bhd and Pembinaan Tuju Setia Sdn Bhd for a total contract sum of RM14.7 mil for the Trion2 and The Pulse Residence projects respectively.

Trion 2 is located between Bandar Malaysia and the Tun Razak Exchange (TRX) while The Pulse Residence is situated in Bandar Puteri Puchong.

“The addition of these contracts serves as KAB’s legacy to continue rendering outstanding services to our customers,” Lai pointed out.

“Our total outstanding order book which stands at circa RM390 mil as of March 15 will provide healthy earnings visibility for the next few years while we execute and deliver our on-going projects.”

With KAB continuing to participate in tenders to further boost its order book, Lai expressed confidence that the company’s financial performances will remain strong in the coming years.

At the close of today’s morning session, KAB was down 4 sen or 2.13% at RM1.84 with 1.14 million shares traded, thus valuing the company at RM1.72 bil – April 6, 2021

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