KKB subsidiary receives purchase order for project in Brunei

KUCHING (Nov 21): The board of directors of KKB Engineering Bhd (KKB) announced that its subsidiary, KKB Industries (Sabah) Sdn Bhd has received a purchase order from Seri Ghanimi Contractor Sdn Bhd for the supply/export of MSCL pipes for project use in Brunei.

Its subsidiary, OceanMight Sdn Bhd has received a service order from Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) for EPCIC Alliance for Kasawari Carbon capture and storage (CCS).

The combined total contract sum for the abovementioned Orders are worth approximately RM27 million. The duration for the purchase order is to be delivered by March 2024.

The completion date for MMHE Project is in July 2025.

“The abovementioned orders will have no effect on share capital of KKB and is expected to contribute positively towards the earnings and net assets of the company and group for the duration of said Orders,” it said in a statement on Bursa.

“To the best of our knowledge, none of the directors and/or major shareholders and/or person connected with them has any interest, direct or indirect in the abovementioned Orders.

“The board is of the opinion that the abovementioned Orders are in the best interest of KKB and its group of companies.”