Muhibbah Engineering wins two contracts worth RM205m

PETALING JAYA: Muhibbah Engineering (M) Bhd has bagged two engineering, procurement, construction, installation and commissioning (EPCIC) contracts for a combined value of RM205 million.

The first contract is a EPCIC of seawater overboard upgrading, firewater network improvement and new pressure control (PCV) installation project in Malacca from Regas Terminal (Sg Udang) Sdn Bhd, which is a wholly owned subsidiary of Petronas Gas Bhd. The job is scheduled for completion in the first quarter of 2020.

The second project, which is slated for completion in the second quarter of 2020, is a EPCIC job for the Yetagun Acid Gas Removal Unit project in Myanmar.

This project was awarded to the group by PC Myanmar (Hong Kong) Ltd, which is a wholly owned subsidiary of Petroliam National Berhad (Petronas).

“The contracts are expected to contribute positively to the earnings and net assets of the Muhibbah Group for the current and future financial years,” it said.

The stock was up 0.74% to RM2.72 with 225,300 shares done.

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