Muhibbah acquires land for Kuantan Maritime Hub

KUANTAN, 4 Jun -- Menteri Besar Pahang Datuk Seri Adnan Yaakob (depan,tengah) menyaksikan Timbalan Ketua Pegawai Eksekutif Muhibbah Engineering (M) Bhd Mac Chung Jin (depan,kanan) menandatangani perjanjian bersama Setiausaha Kerajaan Negeri Pahang Datuk Seri Muhamad Sapian Ismail (depan,kiri) pada majlis Menandatangani Perjanjian Projek Pembangunan Kuantan Maritime Hub antara Perbadanan Setiausaha Kerajaan (PSK) dan Muhibbah Engineering (M) Berhad di sini, hari ini. Projek yang membuka peluang pekerjaan kira-kira 12 ribu dengan terbina pusat pembinaan dan penyelengaraan kapal, pembinaan stuktur khusus minyak dan pusat maritim. --fotoBERNAMA (2016) HAK CIPTA TERPELIHARA

KUALA LUMPUR: Muhibbah Engineering (M) Bhd has acquired 500 acres in Gebeng from State Secretary of Pahang (Inc) to be developed into the Kuantan Maritime Hub over the next 10 years.

The marine construction firm said in a statement to Bursa Malaysia that the land, acquired for RM26.5mil, is strategically located about 20km north of Kuantan, along the main road of Jalan Tanjung Gelang off Jalan Kuantan heading to Kuantan Port.

Muhibbah said the proposed purchase gave the group an opportunity to develop industrial activities for ship building and ship repairs and major fabrication offshore structure.

“This will enlarge the group’s maritime and fabrication capacity to cater for future business growth in the defence, commercial and fabrication sectors. It is expected to enhance the future performance of the Muhibbah Engineering grou,” it said.

Over the weekend, the Pahang government signed an agreement with Muhibbah to develop the Kuantan Maritime Hub at a cost of about RM2bil.

Muhibbah shares closed 1 sen higher at RM2.26 on Monday, with 360,300 shares changing hands.