KUALA LUMPUR: KKB Engineering Bhd's subsidiary OceanMight Sdn Bhd has secured a RM111.6 million purchase order (PO) contract from Samsung Engineering (M) Sdn Bhd.
According to a Bursa filing, the contract is 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 next year.
The filing cited that the contract would not affect the company's share capital.
The contract is also projected to positively contribute to the earnings and net assets of the company and the subsidiary company during the contract period.
"To the best of our knowledge, none of the directors, major shareholders or person connected with them has any interest, direct or indirect, in the abovementioned contract," the company said in the Bursa filing.
KKB Engineering's board of directors believed that the contract is in the best interest of the company and OceanMight Sdn Bhd.