KUALA LUMPUR (May 5): CB Industrial Product Holdings Bhd (CBIP) bags a mechanical, civil and electrical works contract worth RM74.92 million from PT Sinar Mas Group.

In a filing with Bursa Malaysia today, the group said its wholly-owned subsidiary Modipalm Engineering Sdn Bhd has received the Letter of Acceptance (LOA) dated April 29 from Golden Veroleum (Liberia) Inc, a subsidiary of PT Sinar Mas Group.

CBIP (fundamental: 3; valuation: 1.8) said the contract was for the mechanical, civil and electrical works for Tarjuowon Palm Oil Mill 40/80 TPH and Greenville Bulking Station, Liberia.

It said the contract was worth US$20.984 million or equivalent to RM74.9 million.

CBIP said the LOA is expected to contribute positively to the group's earnings for the financial years ending Dec 31, 2015 and 2016.

(Notes: 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.)