Comintel gets letter of intent for Vietnam solid waste management project
Last updated on 19 January 2018 - 07:40pm
PETALING JAYA: Comintel Corp Bhd’s wholly owned subsidiary Green Waste Management Sdn Bhd has received a letter of intent from Vietnam based Thanh Cong Cooperative, to supply, install and commission a waste to energy system for the Xuan Son Municipal Solid Waste Treatment Plant.
The group said in a Bursa Malaysia filing that it had received the letter of intent on January 17, which serves as “basis of consensus” between the two parties to examine the feasibility of the project until a definitive agreement is forged.
The price of the contract is still under negotiation.
The contract will not have any material impact for the financial year ending Jan 31, 2018 but will contribute positively to the future earnings of the should the deal materialise.
The stock gained 0.63% to close at 80 sen with some 1.22 million shares traded.