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The Edge Markets – LKL share price soars On News It Wins Contract To Supply Gloves To China

KUALA LUMPUR (Sept 2): LKL International Bhd’s share price pared gains after spiking as much as 23.5 sen or 25.41% to RM1.16 in Bursa Malaysia afternoon trades today after the firm announced its wholly-owned subsidiary LKL Advance Metaltech Sdn Bhd bagged a US$18.96 million contract to supply nitrile gloves to a China-based company. LKL International said in a Bursa filing today that in ringgit terms, the US$18.96 million contract translates to approximately RM78.49 million based on Bank Negara Malaysia’s exchange rate of US$1 to RM4.140. At 3:38pm today, LKL International shares were traded 15.5 sen or 16.76% higher at RM1.08, which values the company at some RM463.1 million. The stock saw about 52 million shares transacted. LKL International said the contract is expected to contribute positively to its earnings for the financial year ending April 30, 2021.

September 2, 2020

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