Posted on 04 Dec 2018
Tatt Giap Group Bhd has bagged two contracts worth a combined RM10.57 million from Dynaciate Fabricators Sdn Bhd to undertake steel fabrication and piping pre-fabrication works.
In a filing with Bursa Malaysia today, Tatt Giap said its wholly-owned subsidiary Superinox Pipe Industry Sdn Bhd has received two letters of awards (LOAs) from Dynaciate to undertake the sub-contracting works.
The projects are related party transactions as Dynaciate is a wholly-owned subsidiary of Dynaciate Engineering Sdn Bhd (DESB), a major shareholder of Tatt Giap with a 12.95% stake. DESB's major shareholders are Tatt Giap executive directors Khoo Song Heng and Woon Kok Kee, who hold 44.59% and 35.41% in DESB respectively.
Tatt Giap shares closed up 2.5 sen or 17.24% at 17 sen today, with 19.21 million shares done, bringing a market capitalisation of RM24.74 million.
