hit limit down upon being requoted after two days of suspension as investors sold the stock on issues surrounding its past sales deals.
At the opening bell, the stock dived to RM1.13, down 30% or 48 sen.
Stocks linked to the engineering solutions provider for the oil and gas industry, namely, KPower Bhd and Sarawak Consolidated Industries Bhd
, were also lower by 13% and 19% to RM1.14 and 93.5 sen at the mid-day break.
Meanwhile, Reuters reported that the Securities Commission (SC) has commenced an investigation into Serba Dinamik after the company’s auditor flagged issues last week. The newswire said yesterday the regulator had secured documents and records from the company to assist its investigation.
(SCIB), has clinched a RM135 million engineering, procurement, construction and commissioning (EPCC) contract.
SCIB said the letter of award (LOA) from Puncak Gemilang Melati Sdn Bhd was for Phase 1 of the proposed Malaysia Civil Servants Housing Programme (PPAM) in Muallim, Perak.
The 26-month contract would run from April 1, 2021, to June 1, 2023, the company said in a filing with Bursa Malaysia today.
The scope of the LOA includes overall earthwork, infrastructure and building as well as mechanical and engineering works and ancillary works. Any profits attributable to the group would be realised in stages over the tenure of the contracts based on the progress of the projects, it said.
KUALA LUMPUR: Sarawak Consolidated Industries Bhd’s (SCIB) net profit jumped to RM52.17 million in its financial year ended Dec 31, 2020 (FY20) from RM3.15 million in FY19.
SCIB bags nearly RM822m contracts in Kuching, Qatar thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.