OceanMight Sdn. Bhd.

[Reg.No.: 201201029015 (1013502-A)]
(a subsidiary company of KKB Engineering Berhad)

KKB Engineering Bhd’s subsidiary OceanMight Sdn Bhd has bagged a contract from Petronas Carigali Sdn Bhd for the provision of engineering, procurement, construction, commissioning (EPCC) and installation of a wellhead platform for BKD-A and hosts a tie-in modification at BNCPP-B Topsides — a Bakau Non-Associated Gas Development project.

The group noted in an exchange filing yesterday that a formal agreement for the contract shall be executed in due course.

The contract value was not disclosed in the announcement, however, the project execution period is 19 months.

In October last year, KKB announced that it secured two construction contracts from the Sarawak

Rural Water Supply Department to construct and complete water supply works from Kota Samarahan to Sebuyau, a Samarahan water supply grid programme.

The contract is worth RM60.9 million.

KKB said the contract period for the first contract package is for 14 months from the end of October 2019 and is scheduled to be completed by December this year.

The second contract package will commence 16 months from the end of October 2019 and is scheduled to complete by February 2021.

KKB stated that it received additional supply orders for mild steel cement lining pipes and specials from Laras Jaya Engineering Sdn Bhd, Cipta Wawasan Maju Engineering Sdn Bhd and Cityon Development Sdn Bhd, which are to be delivered in stages within the first half of 2020.

In a recent statement, the group said it expects to achieve strong results for the financial year ended Dec 31, 2019, supported by the existing contracts in hand for the ongoing construction works and major onshore fabrication jobs for the oil and gas facilities.

KKB is continuously pursuing various engineering projects, particularly projects related to the supply, laying and commissioning of water pipes and other related infrastructure works scheduled to be implemented under the Sarawak Water Supply Grid Programme.

In addition, KKB said OceanMight will continue to tender for new projects related to the major onshore fabrication with continued efforts on prudent cost management and operational efficiency to remain robust and competitive.