Kelington starts of 2022 quarter positively after a solid 2021, the China subsidiary Kelington Engineering (Shanghai) Co., Ltd., had successfully received an award of a contract from China’s largest semiconductor foundry to perform gas hook up works in Beijing, China.
According to the firm, the contract value is worth approximately RMB123 million (around RM80 million), with the project to commence in May 2022 and is expected to be completed by March 2024. The contract is expected to contribute positively to the earnings and net assets for the financial years ending 2022- 2024.
This award bodes well for the group as this is a major deal from an overseas company.
