KUALA LUMPUR (March 17): Piping expert Wah Seong Corp Bhd, via its wholly-owned subsidiary WS Engineering & Fabrication Pte Ltd, has bagged a contract worth US$35.95 million or equivalent to RM147.81 million for modules fabrication works on a project in the UK.

The job is estimated to be completed within 18 months, according to a filing with Bursa Malaysia today.

The scope of work of the contract, which was awarded by UK-based Fluor Ltd, involves complete fabrication and assembly of pipe rack, process, and structural modules and skid units and testing, pre-commissioning, turnover and load out services for the modules, said Wah Seong.

Wah Seong said the contract is expected to contribute positively to the group’s earnings over the contract period, adding that the contract is project specific and is not renewable.

“None of the directors, major shareholders, chief executive of [Wah Seong] and/or persons connected to them have any interest, direct or indirect, in the contract,” said the company.

Wah Seong’s shares closed half a sen or 0.57% lower at 86.5 sen today, valuing the company at RM670.28 million. Some 3.26 million shares were traded today.

Over the past year, the counter gained some 63% from 53 sen.