The group’s engineering, construction and manufacturing divisions have also tendered for RM80mil worth of contracts, according to group executive director Kho Pok Tong.
KUCHING: KKB Engineering Bhd
’s oil and gas subsidiary OceanMight Sdn Bhd has bid for fabrication jobs for offshore structures worth about RM123mil.
The group’s engineering, construction and manufacturing divisions have also tendered for RM80mil worth of contracts, according to group executive director Kho Pok Tong.
“The outcome of these tenders is expected to be known in the second half of this year,” he told StarBiz after the group’s AGM.
As of the first quarter ended March 31, 2022 (1Q22), Kho said the group’s order book stood at RM496mil, with the projects in hand due for completion up to 2023.
One of the major ongoing projects is a work package for Pan Borneo Highway undertaken by KKBWCT Joint Venture Sdn Bhd.
In 1Q22, KKB group has been awarded contracts worth about RM54mil.
One of the new contracts secured by OceanMight is from Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) for the provision of fabrication engineering, supervision, manpower, necessary equipment/tools and consumables to carry out piles fabrication, loadout and sail away for SK408W Jerun A CPP jacket.
KKB was also awarded a letter of contract amendment and extension for the price agreement for new and refurbishment of liquefied petroleum gas cylinders for Petronas Dagangan Bhd.
OceanMight is also one of Petroliam Nasional Bhd (Petronas) licensed yards in Malaysia and the second in Sarawak.
“Since 2014, OceanMight has bid for work scopes ranging from engineering, procurement and construction to engineering, procurement, construction, installation and commissioning.
“We have been awarded 14 contracts with combined contract value of about RM1bil.
“Correspondingly, the group’s health, safety and environment has recorded around 6.2 million man hours with zero lost time injury for the completed and ongoing contracts,” he added.
KKB group’s clientele include Petronas, MISC Bhd, MMHE, PTTEP of Thailand, Repsol of Spain, Enquest-Uzma JV, Vestigo Petroleum and 2H.
Currently, OceanMight is undertaking two MMHE’s contracts – Kasawari gas development project and Jerun – with a combined value of RM80mil,” said Kho.
OceanMight has recently signed a memorandum of understanding with Samsung Engineering Co Ltd to collaborate in the bidding of tenders for projects worldwide.
The company sees the need, in addition to building its capabilities internally, for increased collaboration with external partners to leverage on each other’s expertise and technology.
Kho said as the group navigates through the uncertain and challenging business environment, it remains proactive in exploring business opportunities that are aligned with its long-term strategic goals.
“Premises on the group’s proven experience and credibility, the management continues to intensify its efforts and resources to secure more infrastructure and water-related construction projects in Sarawak, and continuously exploring collaborations with strategic partners, be it local or foreign.
“This will expand the group’s income stream and enhance the sustainability of its core businesses,” explained Kho.
