Bursa Malaysia Stock Watch
Kencana unit gets RM275m job from S'wak Shell
kltrader
Publish date: Tue, 16 Nov 2010, 01:27 PM
kltrader
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KUALA LUMPUR: KENCANA PETROLEUM BHD []'s wholly owned subsidiary, Kencana HL Sdn Bhd (KHL) has secured contracts worth RM275 million from Sarawak Shell Bhd (SSB) for the fabrication of compression modules and tie-in modifications.
In a statement Monday, Nov 15, Kencana said that KHL was to undertake the fabrication of E8K Compression Module and F13K Compression Module & E-11P-B Tie-in Modifications for SSB's operated fields off the coast of Sarawak.
It said the contracts were one-off CONSTRUCTION [] contracts and expected to be delivered within the first quarter of year 2012.
The company said the contracts were expected to contribute positively to its earnings for the financial year ending July 31, 2011 and 2012.
Kencana closed two sen higher at RM2 with 3.4 million shares done.
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