MMHB up 7.87% after securing Petronas offshore job

09 Jan 2019 / 11:22 H.

PETALING JAYA: Malaysia Marine and Heavy Engineering Holdings Bhd’s (MMHB) share price rose 7.87% this morning after its wholly owned subsidiary Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) was awarded an engineering, procurement and construction of fixed offshore structure job by Petroliam Nasional Bhd (Petronas).

At 10.49am, MMHB was trading at 68.5 sen with 446,100 shares done.

MMHB told the stock exchange yesterday that its unit MMHE has been awarded a frame agreement by Petronas in relation to the project which comes in two packages.

Package A is for fixed offshore structures of weight exceeding 7,500 metric tonnes (MT) while Package B for fixed offshore structures of weight not exceeding or equal to 7,500MT. The value of the contracts was not disclosed.

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