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Tuesday, December 23, 2014

JAKS secures RM55.3m Langat 2 piping works contract (Edge)

Resources Bhd’s (JAKS) subsidiary JAKS Sdn Bhd has secured Package 5 of the proposed Langat 2 Water Treatment Plant and Reticulation System in Selangor for the supply and installation of pipes.

In a filing with Bursa Malaysia yesterday, JAKS said the contract is worth RM55.3 million for 24 months up to January 2017.

“The contract is expected to contribute positively to the revenue and earnings of JAKS group for the financial year ending Dec 31, 2015, and the following financial years within the duration of the contract,” said the company. JAKS said the award would have no effect on its gearing or its net asset per share for its current financial year ending Dec 31, 2014.

According to, JAKS’ fundamental score is at 0.35, and its valuation score at 0.9, on the scale of 0 to 3 with 3 being the best score. JAKS’ share price rose 3.5 sen or 8.33% to close at 45.5 sen yesterday, giving it a market capitalisation of RM195.07 million.

This article first appeared in The Edge Financial Daily, on December 23, 2014.

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