Latest news with #RM146mil
The Star
05-08-2025
- Business
- The Star
Kelington wins wafer hook-up job in Germany
PETALING JAYA: Kelington Group Bhd , via its wholly-owned subsidiary Kelington Engineering (Germany) GmbH (KEGG), has accepted a letter of intent (LOI) for a semiconductor hook-up project in Dresden, Germany. Based on the estimated scope for the first phase, the integrated engineering solutions provider said the total contract value is estimated at a minimum of €30mil (approximately RM146mil), with the potential to increase to €50mil, subject to the final configuration to be determined by the client. The LOI establishes a framework for detailed discussions on KEGG's provision of hook-up services for key process systems involving specialty gases, chemicals, slurry, bulk gases, process vacuum and ultra-pure water. 'It also sets out the agreed unit pricing structure and price adjustment clauses, which will remain in effect until 2027. 'This long-term arrangement positions KEGG to undertake follow-on work as this semiconductor wafer fabrication plant expands, without the need for renegotiation on core pricing terms.' Kelington said the LOI marks its major entry into the European market.
The Star
04-08-2025
- Business
- The Star
Kelington secures semiconductor project in Germany
Kelington Group Bhd chief executive officer Ir. Raymond Gan PETALING JAYA: Kelington Group Bhd , via its wholly-owned subsidiary Kelington Engineering (Germany) GmbH (KEGG), has accepted a letter of intent (LOI) for a semiconductor hook-up project in Dresden, Germany. Based on the estimated scope for the first phase, the integrated engineering solutions provider said the total contract value is estimated at a minimum of 30 million euros (approximately RM146mil) with the potential to increase to 50 million euros (approximately RM244mil), subject to the final configuration to be determined by the client. 'The LOI establishes a framework for detailed discussions on KEGG to provide hook-up services for key process systems involving specialty gases, chemicals, slurry, bulk gases, process vacuum, and ultra-pure water (UPW). 'It also sets out the agreed unit pricing structure and price adjustment clauses, which will remain in effect until 2027. This long-term arrangement positions KEGG to undertake follow-on work as this semiconductor wafer fabrication plant (wafer fab) expands, without the need for renegotiation on core pricing terms.' Kelington said the LOI marks the company's major entry into the European market. 'This milestone represents a significant step in our European expansion and strengthens our position as a trusted global engineering solutions provider. The end-user is a long-standing client we have supported on multiple projects in Malaysia, and we are proud to extend this partnership into Europe,' Kelington chief executive officer Ir. Raymond Gan said in a statement.
The Star
16-05-2025
- Business
- The Star
MSCI removes six stocks following latest review
CIMB Research said the development was negative for the excluded stocks, as it could trigger selling by passive funds that closely tracks the index. PETALING JAYA: The latest MSCI Malaysia Small Cap Index quarterly rebalancing is not expected to have a significant impact to the main index stocks, although smaller capitalised counters could see some rebalancing moving forward. MSCI has announced the removal of six stocks following its latest review. The affected stocks are British American Tobacco (M) Bhd , D&O Green Technologies Bhd , Dayang Enterprise Holdings Bhd , Pentamaster Corp Bhd , Berjaya Sports Toto Bhd , and UWC Bhd . CIMB Research said the development was negative for the excluded stocks, as it could trigger selling by passive funds that closely tracks the index. The MSCI Malaysia Small Cap Index comprises 68 stocks and accounts for about 14% of the stock market. The MSCI Malaysia Index measures the performance of the large and mid cap segments of the Malaysian market. With 30 constituents, the MSCI Malaysia Index covers about 85% of the local equity universe. 'Our analysis of the six stocks removed from the MSCI Malaysia Small Cap Index indicates that they accounted for around 4.4% of the total free float adjusted market capitalisation of the MSCI Malaysia Small Cap Index of US$36bil as at end-April 2025,' the research house pointed out. Since non-strategic foreign shareholdings in the stocks are relatively low, CIMB Research said potential fund outflows could amount to RM146mil. This is based on a worst case scenario playing out that all identified passive holders within the top 30 shareholders fully exit their positions. Meanwhile, it points out that daily foreign fund inflows surged to a record high of RM796.1mil on May 13, a day after the United States and China agreed to lower tariffs on their products for the next 90 days. This marked a de-escalation in the ongoing trade war between the world's two largest economies.
