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Quick take: Ipmuda jumps 71% on newly secured contract

Quick take: Ipmuda jumps 71% on newly secured contract

KUALA LUMPUR: Shares of Ipmuda Bhd surged 71% in early trade Monday after securing a RM78mil engineering, procurement, construction and commissioning (EPCC) contract from Coara Marang Sdn Bhd.

The counter, one of the top gainers on Bursa Malaysia, jumped 71.19%, or 21 sen to 50.5 sen.

Ipmuda said the contract was for the design, erection, connection, commissioning, and testing as well as the supply of equipment for the construction of a 100MWac solar power facility in Marang, Terengganu.

The commencement date of the project is expected to be on Nov 15.

 

The EPCC contract is projected to contribute positively to Ipmuda’s earnings and net assets per share for the financial year ending June 30,2021 onwards until the expiry of the project.

Credits from : https://www.thestar.com.my/business/business-news/2020/09/07/quick-take-ipmuda-jumps-71-on-newly-secured-contract