Hot Stock EG Industries rises 3.41% on landing US$36m contract
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Hot Stock EG Industries rises 3.41% on landing US$36m contract
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[size=28]EG Industries rises 3.41% on landing US$36m contract
By Surin Murugiah / theedgemarkets.com | May 24, 2016 : 9:47 AM MYTKUALA LUMPUR (May 24): EG Industries Bhd shares rose 3.41% this morning after it clinched a two-year contract worth US$36 million (RM146 million) from Swedish-based Shortcut Labs AB to be the sole manufacturer of a wireless smart button, known as Flic.
At 9.27am, EG Industries rose 3 sen to 91 sen with 4.95 million shares done.
EG Industries group CEO and ED Alex Kang said in a statement the contract has opened prospects for the group to support the fast-growing adoption of smart interconnecting devices, apart from affirming its proposition as a one-stop manufacturing partner.
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