Quick take: LKL shares rise on Sarawak government contract news

KUALA LUMPUR: Shares in LKL International Bhd continued its uptrend in early trade Thursday following news of its RM6.57mil contract win.

The medical/healthcare beds, peripherals and accessories provider rose 7.9%, or 1.5 sen to 21 sen. It is currently the third most active counter with 7.7 million shares traded. The stock has gained 12 sen since March 17.

LKL has secured a RM6.57mil procurement contract for personal protective equipment (PPE) from the Sarawak state government for distribution to public hospitals.

The contract is expected to contribute positively to its earnings for the financial year ending April 30,2020.

Since the Covid-19 outbreak, LKL said it has been receiving increasing enquiries and purchase orders for critical-care medical items such as hospital beds, patient monitors, ventilators, PPE, heat detectors, probe covers and portable ultrasound units.

Earlier, managing director Lim Kon Lian said the group was ready to fulfil the high demand for medical equipment from hospitals in Malaysia and foreign countries in their battle against Covid-19.

Lim said LKL has received numerous requests for essential medical equipment from hospitals in various states across Malaysia, as well as from foreign countries, including Italy, Maldives, Mauritius, Brunei, and Bangladesh.

Source: TheStar