KKB Engineering Bhd jumped 7.5% in late morning trade after securing a RM517 million Samalaju water supply infrastructure project from the Government.
The counter rose nine sen to RM1.29 as of 11.55am, after opening at RM1.27 and climbing as high as RM1.32. It also traded at a low of RM1.27 during the session.
Some 523,200 shares changed hands, with the stock last done at RM1.29 compared with its previous adjusted close of RM1.20.
KKB had 530,000 shares queued to buy at RM1.28 against 114,000 shares on the sell queue at RM1.30.
The company accepted the RM517 million Letter of Acceptance from the Government through the Regional Corridor Development Authority (RECODA) on Sept 28 for the SCORE Samalaju Phase 2 Water Supply Physical Infrastructure Project.
The project is scheduled for completion within 36 months.
KKB said the contract is expected to contribute positively to its earnings and net assets over the project period, while the award will not have any effect on its share capital.
