Sunday 19 May 2024
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KUALA LUMPUR (May 6): Steel fabrication company KKB Engineering Bhd said on Monday that it has secured two contracts worth a combined total of RM37.9 million.

KKB’s associate company Edisi Optima Sdn Bhd will build and maintain liquefied petroleum cylinders for Petronas Dagangan Bhd for one year, the company said in an exchange filing. The contract is also extendable for another year until 2026, it noted.

In addition, KKB Engineering will also supply mild steel concrete line pipes and fittings to Perbena Emas Sdn Bhd, a wholly-owned subsidiary of Pansar Bhd, according to the same filing. The contract is expected to be completed by the second quarter of 2025.

The contracts are expected to contribute to the earnings and net assets of the Sarawak-based company for the duration of the contract and supply period, it added.

Shares of KKB Engineering rose three sen or 1.66% to RM1.84, valuing the company at RM531.26 million, ahead of the contracts announcement.
 

Edited ByJason Ng
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