KUALA LUMPUR (June 29): Bintai Kinden Corporation Bhd is partnering with Marafie Industrial Co to supply piping materials to oil and gas (O&G) related companies in Saudi Arabia. In a statement to the bourse on Wednesday (June 29), Bintai Kinden said its subsidiary Bintai Energy Sdn Bhd has entered into a marketing and distribution agreement with Saudi Arabia-based Marafie. Bintai Kinden said the Marafie group has established fabrication facilities and offices and regional sales offices in Saudi Arabia. Bintai Energy is a 51:49 joint venture between Bintai Kinden unit Kejuruteraan Bintai Kindenko Sdn Bhd and Petro Flanges & Fittings Sdn Bhd (PFF). At the midday break on Wednesday, Bintai Kinden was trading at 8.5 sen, valuing it at RM72.52 million.

Source: The Edge Markets June 29, 2022 06:04 UTC