Published on 03 Oct 2019. | Source: thestar.com.my
KUALA LUMPUR: Kenanga research is the latest contract win by MISC BHD as it represents the group's first entry into the bunker vessel space.
MISC yesterday said its 51:49 joint venture with Avenir had been awarded a three-year charter contract by Petronas for one LNG bunker vessel for operations mainly in Malaysian and Singaporean waters.
The contract is valued at US$28mil and is expected to commence in 1Q20.
While the contract may not significantly impact earnings, Kenanga expects the venture into the bunker vessel space to lead to more job wins moving forward.
"Given the smallish contract size, we expect inconsequential earnings (i.e.
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