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Boustead unit gets RM108m Murphy job

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Boustead unit gets RM108m Murphy job Empty Boustead unit gets RM108m Murphy job

Post by Cals Fri 22 Nov 2013, 14:13

Boustead unit gets RM108m Murphy job
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com   
Friday, 22 November 2013 13:16

KUALA LUMPUR (Nov 22): Boustead Heavy Industries Corp Bhd (BHIC) has clinched a RM108 million oil and gas support-services job from Murphy Sarawak Oil Co Ltd.

In a statement to the exchange today, BHIC said it has secured the project via wholly-owned subsidiary Boustead Penang Shipyard Sdn Bhd (BPS). The engineering, procurement, construction and commissioning job involves phase two of Murphy's Sarawak gas development project.

"The completion date of the contract is in June 2015. A formal contract between Murphy and BPS will be signed at a later date," BHIC said.

BHIC's sister company Boustead Holdings Bhd has also announced the project in a separate statement to the exchange.

Boustead Holdings said "the contract will have no material effect on the earnings of the BHB (Boustead Holdings) or BHIC Group for the financial year ending 31 December 2013, but will contribute positively to its future earnings."

Lembaga Tabung Angkatan Tentera or the Armed Forces Fund Board is a common major shareholder in BHIC and Boustead Holdings.
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