Medical equipment firm LKL shares rise after announcing Sarawak procurement order

KUALA LUMPUR (April 8): LKL International Bhd’s share price rose as much as 3.5 sen or 15.22% to 26.5 sen in morning trades today after the medical equipment provider said yesterday its wholly-owned subsidiary LKL Advance Metaltech Sdn Bhd received a personal protective equipment (PPE) procurement order worth RM7.08 million from the Sarawak State Health Department.

At 9:53am today, LKL International saw some 23 million shares traded. At 26.5 sen, the company has a market capitalisation of RM113.63 million.

In a statement to Bursa Malaysia yesterday, LKL International said the order is expected to contribute positively to the earnings of the company for the financial year ending April 30, 2020.

"The risks mainly relate to matters pertaining to delivery of products to the customer, which are considered normal operational risks,” LKL International said.

LKL International said on its website that LKL Advance also provides, among others, healthcare beds to hospitals.