KUALA LUMPUR: Shares in Jati Tinggi Group Bhd skyrocketed to new heights following the announcement of a RM25.5 million contract win from Tenaga Nasional Bhd (TNB).
At 9.04 am today, Jati Tinggi shares surged by as much as 24 per cent, reaching 44 sen before slightly retracing to 40 sen per share at 9.15 am.
It was the most actively traded stock with more than 53 million shares changinng hands.
As at 9.57am, the stock was trading at 40 sen a share.
Yesterday, Jati Tinggi announced that its unit Jati Tinggi Holding Sdn Bhd (JTSHB), in collaboration with Worktime Engineering Sdn Bhd (WESB) secured a RM25.5 million contract from TNB.
The contract involves providing a 132KV bulk supply to a semiconductor production factory in Kuala Lumpur.
The contract starts on May 31, 2024, and is to be completed within a year.
"The contract is expected to contribute positively to the future earnings, earnings per share and net assets per share of Jati Tinggi over the duration of the contract," it said in a filing with Bursa Malaysia on Thursday.Ends