PETALING JAYA: Kelington Group Bhd has clinched new orders totalling RM53 million, bringing the group’s total value of new orders secured to RM146 million in the first quarter ended Dec 31.
The group said in a statement that the new contracts secured were largely for specialised engineering works under the ultra high purity (UHP) segments for wafer fabs in China.
The RM146 million accumulated new orders represent a year-on-year growth of 87% from RM78 million achieved a year ago, on the back of higher project orders from the UHP and process engineering segments.
“Our UHP business remains robust and continue to be the anchor growth driver for the group. We have been receiving strong project flows beyond the domestic market. Our growing presence in China and Singapore have been instrumental in driving growth for the group. The two markets account for approximately 71% of our outstanding orderbook with project orders mainly from the UHP division,” said its CEO Raymond Gan.
The new orders bring the Kelington’s total outstanding orderbook to RM406 million, the bulk of which are from the UHP segment. The UHP segment makes up 73% of the total outstanding orderbook, followed by 19% from process engineering segment and 7% from general contracting segment.
The group expects most of these contracts to be completed and recognised in the financial year ending 2019 and 2020.
Its tenderbook currently stands at about RM1.2 billion.
Source: The Sun Daily