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Tuesday, September 15, 2015

SKP Resources wins RM600m per year contract

KUALA LUMPUR (Sept 15): SKP Resources Bhd ( Valuation: 1.10, Fundamental: 2.10) announced today that the contract it was awarded by its existing customer, Dyson Ltd, was valued at RM600 million per year.

The company added that the tenure of the contract was for five years, bringing the total contract sum to RM3 billion, above the company’s current market capitalisation of RM1.52 billion.

Yesterday, SKP announced the award of the new contract, but did not disclose the value and tenure of the contract. The contract is scheduled to commence in January 2016.

SKP said that the contract is expected to contribute positively to the group’s revenue and earnings for its financial years ending March 31, 2016 and March 31, 2017.

SKP’s shares gained 6 sen or 4.48% to RM1.40 by the close of the morning trade session today.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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