George Kent shares rise after securing US$6.86 mln tender in Hong Kong

KUALA LUMPUR: George Kent (Malaysia) Bhd shares on Bursa Malaysia rose in trading session yesterday after the company secured a US$6.86 million (US$1=RM4.20) tender to supply and deliver 650,000 water meters to the Water Supplies Department (WSD) Hong Kong.

At closing, the counter was up six sen at RM2.80 with 2.08 million shares changing hands.

The bid was made under the group’s subsidiary, George Kent International Pte Ltd, it said in a filing to Bursa Malaysia on Monday.

The contract is the second for George Kent which would supply WSD with DN15 Brass PSM-T water meters in 24 shipments within two years.

In 2015, George Kent secured a contract to supply 600,000 water meters to WSD. Group chairman Tan Sri Tan Kay Hock said the tender award was a testament to the market’s confidence, trust and belief in the company’s technical expertise and competitiveness in meeting the utmost discerning requirements with international standards.