Muhibbah Engineering (M) Bhd has bagged a contract worth between RM93 million and RM100 million from Ophir Production Sdn Bhd to provide engineering, procurement, construction, installation and commissioning (EPCIC) services for the Ophir wellhead platform, located offshore Peninsular Malaysia.
The contract will commence this month for a period of 14 months to final hook-up and commissioning offshore, according to the filing to Bursa Malaysia.
The group also announced its quarterly earnings for the three month ended Sept 30. Its net profit for the third quarter ended Sept 30, 2015 (3QFY15) rose 13.27% to RM22.96 million from RM20.7 million a year ago due to improved operational efficiencies of the Favelle Favco ( Valuation: 2.40, Fundamental: 1.70) crane division, as well as further growth and foreign exchange gain from its Cambodian airports operation.
Its revenue for the period came in 4.6% higher at RM393.62 million from RM376.1 million in 3QFY14.
For the nine-month period (9MFY15), net profit increased 6.8% to RM65.51 million or 14.43 sen per share from RM61.36 million or 14.52 sen per share a year ago, while revenue decreased 5.6% to RM1.17 billion from RM1.24 billion in 9MFY14.
Muhibbah Engineering has a total outstanding secured order book in hand of RM2.15 billion as at Nov 20, 2015, its filing shows.
I still believe uptrend is on the track..strong usd good for its business..may take awhile to go up to the nx level Many is profit taking bcoz of its recent uptrend n weak china stock market sentiment
"The Board of Directors (“the Board”) of Muhibbah is pleased to announce that a consortium of Muhibbah and K.K. Dinamik Sdn. Bhd. (“MEB-KKD Consortium”), of which Muhibbah has 70% interest, has on 25th February 2016 accepted and acknowledged the award from PETRONAS Carigali Sdn. Bhd. (“PETRONAS CARIGALI”), a wholly owned subsidiary of Petroliam Nasional Berhad (“PETRONAS”) group to undertake the extension of 11 storeys new office building complete with 3 ½ floor sub-basement car park at Kota Kinabalu, Sabah for a total contract price RM136.9 million, exclusive of Goods and Services Tax (“The Contract”)."
The Board of Directors (“the Board”) of Muhibbah Engineering (M) Bhd is pleased to announce that its wholly-owned shipyard subsidiary, Muhibbah Marine Engineering Sdn Bhd, has accepted the letter of award from the Ministry of Transport, Malaysia for the Design, Construction, Testing and Commissioning of one (1) unit 85 metres Buoy Tender/Multi-Purpose Vessel for the Malaysian Marine Department for a contract value of approximately RM92 million, inclusive of Goods and Services Tax (“The Contract”).
The Board of Directors of Muhibbah (“the Board”) is pleased to announce that SCA had further awarded a contract of approximately USD23 million (approximately RM88 million) to a construction joint venture formed by VCGP and Muhibbah with 70:30 equity interest, to design and construct a new domestic terminal of the Phnom Penh Airport in Cambodia (“the Contract”) to also cater for its future growth of domestic traffic.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
gunse007
66 posts
Posted by gunse007 > 2015-10-21 16:58 | Report Abuse
I am still holding it too