Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) will be tendering for various projects worth close to RM4 billion this year, in a move seen as strengthening its order book.

Chairman Datuk Nasarudin Md Idris said the tenders are at various stages of evaluation and discussion, and MHB remains confident that it will win a large percentage of the total projects tendered.

The heavy and marine engineering services provider's order book as at March 2013 stood at RM2.3 billion.

"About one-third of the tendered projects are international projects. We are confident of securing those projects also, as we have a proven track record, with international standards.

"I believe we have the capability and improved services such as our procurement and engineering capabilities, which is in line with our intention of transforming MHB to be a high-performing company, globally," he told reporters after the company's annual general meeting today.

MHB is 66.5 per cent owned by MISC Bhd (Malaysia International Shipping Corporation).

Nasarudin said MHB will be allocating a capital expenditure of more than RM300 million this year, of which about RM280 million will be spent on the company's yard optimisation programme.

He said the company intends to purchase new machinery for both its yards -- MMHE East and MMHE West -- as leasing machinery will further incure more costs for the company.

"Cumulatively, we have spent close to RM1 billion for the programme. This is one of the mechanisms the company took to provide more space for more projects in our yards.

"On average, all the yards are occupied at about 70 per cent now, as a result of the implementation of the programme," he added.

He also said more operational improvement initiatives would be launched this year, as part of the company's three-year transformation programme.

Nasarudin said the company also plans to participate in Petronas Bhd's RM60 billion Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor.

Given MHB's experience in an onshore gas terminal project in Turkmenistan, the company believes it has the capability to undertake a slice of the mega-project.

"We are working very hard to secure a slice of the project, through partnership with other related parties. This project would be very positive for our order book," he said.-- Bernama