KUALA LUMPUR: Seremban Engineering Bhd
(SEB) has secured a RM72mil subcontract works from MIE Industrial Sdn Bhd, to supply, fabricate, and install steel structures for a factory project in Seremban.
In a filing with Bursa Malaysia, SEB said the contract was for the construction of structural steel works for the SDI Energy Malaysia Sdn Bhd (SDIEM) Complex 2 Factory Project (Zone A).
The project duration is 10 months from the date of commencement of work, which is expected to be Sept 26 and be completed on May 30, 2023 or within any extended period.
SEB said the contract would be funded via internally generated funds and project financing as and when required.
“As part of the group synergy and in furtherance of the shareholders’ mandate for the recurrent related party transaction of a revenue or trading in nature, MIE Industrial, being the major shareholder of the company, has awarded to SEB the contract works (including the Contract) for up to RM204.89mil in value as at the date of this announcement,” it said.
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