KUALA LUMPUR (June 13): Shares in Asia Bioenergy Technologies Bhd (Asiabio) were the most actively traded this morning; and at 10.45am, the stock was up half a sen or 2.78% at 18.5 sen with 38.72 million shares traded for a market capitalisation of RM76.43 million.

Recently, Asiabio had bagged a RM220 million subcontract for ancillary services in Pengerang from Tenisha Construction Sdn Bhd via its wholly-owned subsidiary Asiabio Petroleum Sdn Bhd, with a subcontract agreement expected to be executed within a month.

The works to be carried out under the contract include designing, erecting, inspecting, maintaining and dismantling of scaffolding and formwork systems on site.

In a separate statement, the group added that subsequent to this award, both companies will be exploring entering into various agreements to outline roles and responsibilities of each party.

It said there is a possibility of setting up a joint venture company to expand the repertoire of ancillary services such as blasting and painting services and minor fabrication works through an integrated yard.