Monday, 02 July 2018
KPS' subsidiary clinches RM20.0 million Air Selangor pipe replacement contract
- Smartpipe Technology Sdn Bhd (SPT) to replace existing pipeworks with Mild Steel (MS), Ductile Iron (DI) pipes and HighDensity Polyethylene (HDPE) fixtures
Shah Alam, Malaysia, 2 July 2018 – Diversified group Kumpulan Perangsang Selangor Berhad(KPS, Bursa: 5843; Bloomberg: KUPS:MK; Reuters: KPSB.KL) announced that its subsidiary, SPT secured RM20.0 million contract from Pengurusan Air Selangor Sdn Bhd (“Air Selangor”) to replace existing pipeworks in Hulu Langat and Kuala Lumpur. The key scope includes supplying and installing MS pipes, install DI pipes and HDPE pipe fixtures.
The contract works will cover 16.3 kilometres and will be implemented in seven areas, namely Jalan Cheras – Klang, Hulu Langat Road, Jalan Cheras Hulu Langat Road, Pumping main Taman Segar, Pumping main Bangsar Ville, Jalan Jintan Taman Supreme, Pumping main Sri Hartamas and Kg. Seri Delima.
The contract is estimated to be completed within 15 months from its commencement date on 9 July 2018 and hence is expected to contribute positively to the Perangsang Selangor Group for the financial years ending 31 December 2018 and 2019.
Ahmad Fariz Hassan, Chief Executive Officer of KPS said:
“In comparison to the traditional Asbestos Cement (AC) pipes, the right use of MS, DI and HDPE pipes at the right locations would highly reduce the potential occurrence of water leakages while being cost effective at the same time.
As such, this contract win from Air Selangor reinforces the Selangor state’s steadfast commitment to reducing its non-revenue water (NRW) rates, as well as attaining better water management to safeguard Selangorians’ well-being.”
Air Selangor had reported in January 2018 that it had successfully reduced NRW rates in the Selangor state from 32.6% in 2015 to 30.1% by end-2017, saving 82 million litres of water per day. It aims to reduce the NRW rate further to 28% by end-2020.
KPS holds 60.0% equity stake in SPT via its wholly-owned subsidiary, Nadi Biru Sdn Bhd. SPT is an engineering company offering an integrated solution to water and other utility companies for the maintenance of their pipeline assets.
-- End --
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.
Issued for and on behalf of KUMPULAN PERANGSANG SELANGOR BERHAD by Aquilas Advisory (Malaysia) Sdn Bhd. For media enquiries, please contact:
