Monday, 9 April 2012

Ingress up 8% on Tenaga contract

KUALA LUMPUR (April 9) : Ingress Corp Bhd rose as much as 8% on Monday morning following updates that the company had secured a RM26.6 million switching station job from TENAGA NASIONAL BHD [] (TNB).

Shares of Ingress gained eight sen to an intraday high of RM1.09 before trading lower at RM1.06 at 11.27am.

In a statement to the exchange on Friday, Ingresss said it will establish a 275-kilovolt station for TNB at Pantai Remis, Selangor.Ingress said TNB has issued a letter of intent for the project to a joint venture between two subsidiaries of Ingress, namely, Multi Discovery Sdn Bhd and Ramusa Engineering Sdn Bhd.

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