KKB Engineering Bhd’s subsidiary, OceanMight Sdn Bhd, has bagged a RM111.6 million contract from Samsung Engineering (M) Sdn Bhd.
In a filing with Bursa Malaysia today, KKB said it had received a purchase order contract from Samsung Engineering (M) Sdn Bhd for the module fabrication and supply of steel structures for the Malaysia Shell R&M onshore gas plant project in Bintulu.
“The completion date for Samsung Engineering is scheduled to be within the third quarter of 2024.
“It said that the contract will have no effect on the share capital of the company and is expected to contribute positively towards its earnings and net assets for the duration of the contract,” it said.
KKB added that among the risk factors affecting the contract include execution risks such as availability of skilled manpower and materials, forex and changes in pricing, weather conditions and/or political, economic and regulatory conditions.
