Corporate results: Kerjaya Prospek, KNM, MISC, Avenir LNG

by TMR/ pic by TMR

Kerjaya Prospek bags RM23m contract in Penang
Kerjaya Prospek Group Bhd has been awarded a RM22.6 million contract by Bintang Holdings Sdn Bhd, a unit of the Low Yat Group, for the construction of hotel in George Town, Penang. In a filing exchange yesterday, the construction company noted the contract entails piling works and construction of a 23-storey hotel consisting of a 17-storey of the hotel portion and a 2-storey basement carpark, amongst others. Kerjaya met its internal target of RM1.2 billion contract order wins in August 2019 after securing a RM95 million contract for the building of the retail podium package for the Bukit Bintang City Centre project.

KNM wins RM52m contract in Indonesia
KNM Group Bhd has secured three additional contract agreements worth US$12.45 million (RM52.17 million) to make and supply pressure vessels to East Kalimantan, Indonesia. KNM told Bursa Malaysia yesterday, under the terms of the agreement signed with client RDMP Balikpapan Jo, KNM is required to supply and deliver the vessels no later than end-May 2021.

MISC, Avenir LNG wins RM117m charter contract from Petronas
MISC Bhd has bagged a RM117 million contract from Petronas for the supply of one liquefied natural gas bunker vessel (LNGBV). In an exchange filing yesterday, MISC’s collaboration with Avenir LNG Ltd has been awarded a time charter party by Petronas’ unit Petronas LNG Sdn Bhd for the provision of the vessel, for operations in Malaysian and Singapore waters. Both MISC and Avenir have agreed on the principal terms for the collaboration and will enter into a shareholders’ agreement. It also noted a joint venture company, Future Horizon (L) Pte Ltd, will be formed to manage the commercial operations of the LNGBV with the ship management to be provided by Eaglestar Shipmanagement (L) Pte Ltd, an indirect wholly-owned subsidiary of the company. The LNGBV will be chartered by Petronas LNG for a period of three years and is expected to commence by the first quarter of 2020.