Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study

Monday, August 30, 2010

KKB subsidiary gets RM114m pipe supply contract

Written by Joseph Chin Monday, 30 August 2010 19:24

KUALA LUMPUR: KKB ENGINEERING BHD []’s subsidiary Harum Bidang Sdn Bhd has secured a RM114 million contract from CMS Infra Trading Sdn Bhd to supply steel pipes.

KKB said on Monday, Aug 30 that Harum Bidang was issued a letter of award by CMS Infra for the supply and delivery of various concrete line mild steel pipes and mechanical couplings.

“The time for completion of the award is 24 months with effect from Sept 1, 2010 to Aug 31, 2012. This contract is worth an estimated sum of RM114 million,” it said.

KKB said CAHYA MATA SARAWAK BHD [] (CMSB) is a major shareholder of KKB. CMS Infra is a subsidiary of CMSB and accordingly, CMSB is deemed interested in the award.

“The award is expected to contribute positively to the earnings and net assets of KKB Group for the financial years ending Dec 31, 2011 to 2012,” it said.

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