Malaysia's Kencana Petroleum has won a RM208 million (US$70 million) contract for a substructure development project located off the coast of Sabah in East Malaysia.

Kencana said it will undertake various construction engineering, procurement, fabrication, testing and commissioning works for a substructure at the Kebabangan Northern Hub development project.

The company told the stock exchange on Tuesday that the contract is expected to start contributing positively to its bottomline starting this fiscal year.

The substructure is expected to be completed and delivered within the third quarter of 2012. - Reuters