Handal unit bags new pipeline contract


In its filing with Bursa Malaysia, Handal said the contract bagged by its 51%-owned subsidiary Borneo Seaoffshore Engineering Sdn Bhd would be effective from Jan 27,2021 until April 2,2022, with a one-year extension option. (File pic shows Handal cranes.)

PETALING JAYA: Handal Energy Bhd’s unit has secured a new contract from Malaysia LNG Sdn Bhd (MLNG) for the provision of pipeline isolations services.

In its filing with Bursa Malaysia, Handal said the contract bagged by its 51%-owned subsidiary Borneo Seaoffshore Engineering Sdn Bhd would be effective from Jan 27,2021 until April 2,2022, with a one-year extension option.

“The contract does not have any specified value as it is on a ‘call-out’ basis whereby work order will be issued at the discretion of MLNG, ” Handal said.

The contract was expected to contribute positively to its earnings for the financial years ending June 30,2021, and 2022 until its expiry.

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