Friday 29 Mar 2024
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KUALA LUMPUR (Dec 29): Engineering firm LFE Corporation Bhd expects to see a marked improvement in its results for financial year ending Jul 31, 2015(FY15), but remains unsure when its Practice Note 17 (PN17) status will be lifted.

“The 36-month Shapadu contract that we recently closed, worth RM350 million, if we apportion it accordingly, it would be a sizeable growth to our revenue,” managing director Liew Kiam Woon said after the group’s annual general meeting today.

However, the board is unsure when Bursa Malaysia would approve LFE Corp’s regularisation plan.

Its executive director Juliana Quah Kooi Hong said that supposing the plan was not approved by the local bourse, LFE Corp would seek an alternate regularisation plan.

“Privatisation is the last resort,” she said.

LFE Corp’s counter was unchanged in morning market, maintaining its market capitalisation at RM13.58 million.

 

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