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(MHB) posted a net loss of RM104.35mil in the first quarter ended March 31 against a net profit of RM6.13mil in the same period a year ago. The lower earnings was mainly due to operating losses recorded by both its marine and heavy engineering segments. Its revenue in the first quarter fell to RM343.57mil from RM346.43mil last year mainly due to lower revenue in the marine segment partially offset with the higher revenue from the heavy engineering segment. The heavy engineering segment posted a higher revenue of RM304.2mil against RM226.8mil reported in the corresponding quarter mainly due to increased activities in ongoing projects. ....
KUALA LUMPUR (April 21): Based on corporate announcements and newsflow today, companies in focus on Thursday (April 22), may be as follows: Malaysia Marine and Heavy Engineering Holdings Bhd, Tasco Bhd, Axis Real Estate Investment Trust, Luxchem Corp Bhd, Widad Group Bhd, BIMB Holdings Bhd, CIMB Group Holdings Bhd, Telekom Malaysia Bhd, Malayan Banking Bhd and Hong Leong Bank Bhd. Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) disclosed today that the value for the engineering, procurement, construction, transportation and installation, and hook-up and commissioning services (EPCIC) contract secured from SapuraOMV Upstream (Sarawak) Inc is RM1 billion. The duration of the contract in the Jerun gas field, which lies in the SK408W block off the coast of Bintulu, is 40 months. The group had announced the contract awarded to its wholly-owned unit Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) last Thursday. ....
KUALA LUMPUR (April 13): Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) said its unit has secured a contract to undertake the engineering, procurement, construction, transportation and installation, and hook-up and commissioning services (EPCIC) for the Jerun gas field, located offshore Sarawak. Wholly-owned Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) bagged the contract from SapuraOMV Upstream Inc, the group said in a statement today. MHB said the EPCIC contract comprises the construction of a 15,000-tonne topside, 10,000-tonne jacket and 5,000-tonne piles of central processing platform (CPP). “It [the contract] also includes the design engineering of a 30-inch carbon steel pipeline with a length equivalent to 80km distance from this CPP to the existing E11R-B platform to commingle with the existing trunkline to Petronas Malaysia LNG Plant in Bintulu,” said the group. ....
KUALA LUMPUR (April 13): Based on corporate announcements and news flow today, companies in focus tomorrow (April 14) may include Top Glove Corp Bhd, Minda Global Bhd, BIMB Holdings Bhd, Genting Malaysia Bhd, UWC Bhd, ConnectCounty Holdings Bhd, Jade Marvel Group Bhd, Malaysia Marine and Heavy Engineering Holdings Bhd. Tan Sri Dr Lim Wee Chai, founder and executive chairman of the world s largest rubber glove producer Top Glove Corp Bhd, has emerged as a minority shareholder of Malaysian private education group Minda Global Bhd. However, Minda did not respond to requests for comment on the transaction. Lim bought the shares in a recent placement and holds less than 5% of the Cyberjaya-based company, according to people with knowledge of the matter, who asked not to be identified as the information is private. ....
KUALA LUMPUR (March 12): theedgemarkets.com highlighted eight stocks at Bursa Malaysia’s afternoon close today. Three stocks indicated positive momentum, while five stocks displayed negative momentum. The stocks with positive momentum were: Avillion Bhd down one sen at 11.5 sen Dagang NeXchange Bhd (DNeX) up 14 sen at RM1.01 Opcom Holdings Bhd up 8.5 sen at 71 sen The stocks with negative momentum were: CB Industrial Product Holding Bhd unchanged at RM1.21 Dominant Enterprise Bhd up 20.5 sen at RM1.08 Ipmuda Bhd up 23 sen at RM1.36 Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) up two sen at 63 sen Olympia Industries Bhd down half a sen at 10 sen ....