This article first appeared in The Edge Financial Daily on January 8, 2019
KUALA LUMPUR: KKB Engineering Bhd’s unit OceanMight Sdn Bhd has signed a letter of award (LoA) by Petroliam Nasional Bhd (Petronas), which will qualify it to bid for contract work involving the provision of engineering, procurement and construction of fixed offshore structure works.
A formal contract shall be executed within three months from acceptance of the said LoA, KKB said in a bourse filing yesterday.
The contract is effective from Dec 12, 2018 and will continue for a period of six years, unless terminated earlier.
The contract will have no effect on the share capital of the company and is expected to contribute positively towards the earnings and net assets of the company and group for the duration of the contract.