Wednesday, 17 October 2018
KPS' subsidiary secures RM162.5 million Air Selangor water chemical supply contract
- Aqua-Flo to supply and deliver chemicals for water treatment plants in Selangor and Federal Territories of Kuala Lumpur and Putrajaya
Shah Alam, Malaysia, 17 October 2018 – Diversified group Kumpulan Perangsang Selangor Berhad(KPS, Bursa: 5843; Bloomberg: KUPS:MK: Reuters: KPSB.KL) announced that its subsidiary, Aqua-Flo Sdn Bhd (Aqua-Flo) clinched a RM162.5 million open tender contract from Pengurusan Air Selangor Sdn Bhd (Air Selangor) to supply and deliver chemicals.
Under the contract, Aqua-Flo will be providing chemicals to water treatment plants in Selangor and Federal Territories of Kuala Lumpur and Putrajaya for a two-year period, commencing on 1st November 2018. The contract is expected to contribute positively to Perangsang Selangor Group for financial years ending 31 December 2018 to 2020.
KPS’ Chief Executive Officer Ahmad Fariz Hassan said:
“Backed by our excellent track record in providing quality products at competitive prices, this contract win, which was secured through an open tender process, strengthens Aqua-Flo’s status as one of the market leaders in the supply of water treatment chemicals.
Aqua-Flo has been safeguarding the quality of water in Selangor since 1994 and we are heartened by the continued vote of confidence by Air Selangor to provide international-standard drinking water in the state.
In setting higher goals, we intend to bank on Aqua-Flo’s strong credentials in ensuring safe water management systems to extend our reach beyond Selangor. To date, we have begun to supply chemicals to water treatment plants in five other states. Given our progress so far, we are optimistic of further improving our order book going forward.”
KPS holds 51% equity stake in Aqua-Flo. Aqua-Flo is a trading company offering chemicals and equipment, as well as provision of technical services in the water, waste and sewage treatment industries.
In May 2016, Aqua-Flo secured three contracts from PNSB Water Sdn Bhd, Konsortium ABASS Sdn Bhd and Konsortium Air Selangor Sdn Bhd, with cumulative estimated value of RM98.0 million over a period of two years. These contracts were then further extended for a further period of five and a half months for a total of RM25.1 million in May 2018.
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About Kumpulan Perangsang Selangor Berhad (www.kps.com.my)
Incorporated in August 1975, Kumpulan Perangsang Selangor Berhad (“KPS” or the “Company”) is a public limited liability company listed on the Main Market of Bursa Malaysia Securities Berhad. The Company has a varied investment portfolio with assets involved in Manufacturing, Trading, Licensing, Infrastructure and Utility, Oil and Gas as well as Telecommunications. KPS is committed towards making significant contributions to human capital, intellectual, and sustainable developments, whilst strengthening its core businesses to optimise returns for its shareholders.
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