Uzma wins RM70mil LNG supply contract

KUALA LUMPUR: Uzma Bhd’s 70%-owned subsidiary, Uzma LNG Sdn Bhd (ULSB) has entered into a LNG supply agreement worth RM70mil with ND Paper Malaysia (Selangor) Sdn Bhd (NDP) for the supply of liquefied natural gas (LNG).

NDP is a subsidiary of Nine Dragons Paper (Holding) Limited, a company listed on the Hong Kong Stock Exchange which was established in 1995 with headquarters in Dongguan City, Guangdong Province.

In a filing with Bursa Malaysia, Uzma said ULSB would supply LNG via a virtual pipeline to NDP at its factory in Banting.

The duration of the contract is for a period of two years commencing from March 15, 2023, until March 14, 2025.

“The contract is expected to contribute positively towards the earnings and net assets per share of the company for the financial year ending June 30, 2023 and onwards until the expiry of the contract,” Uzma said.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Uzma , LNG , ND Paper Malaysia


Next In Business News

Sunview gains momentum on booming solar sector
Ringgit looking up with US interest rate reversal
Holistic approach to developing data centres
China’s exports top forecasts but falling imports point to more stimulus
Lessons from Malaysia’s Silver State
Synergy House brings innovation to the table
UK emerges as haven from global storms
Competition for medical tourists heats up among Asean countries
Empowering SMEs in their digital transformation
Bracing for the CBAM impact

Others Also Read