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.