KUALA LUMPUR (Feb 15): Kejuruteraan Samudra Timur Bhd (KSTB) has bagged a contract from Lundin Malaysia BV to provide oil country tubular goods inspection services.

In a filing with Bursa Malaysia, KSTB said its wholly owned subsidiary Samudra Timur Sdn Bhd was awarded the contract by Lundin today.

The contract is for a primary duration of two years, with an extension option of one year, from Sept 15, 2015.

KSTB said it could not disclose the contract value as "such services depend on the demand and activity levels of Lundin and the scope of services rendered by Samudra Timur during the duration of the contract".

"The price and rates for each type of inspection services are stipulated in a schedule accompanying the contract," it added.

KSTB expects the contract to contribute positively to the group's earnings and earnings per share for the current financial year ending June 30, 2016.

Shares in KSTB were untraded in the morning session today. The stock last closed at 50 sen on Feb 11, with a market capitalisation of RM92.27 million.