KUALA LUMPUR (March 3): Malaysia Marine and Heavy Engineering Holdings Bhd (KL:MHB) has secured a four-year contract from Thailand's upstream player PTT Exploration and Production Public Company Ltd (PTTEP) for offshore works in Sarawak. The contract, structured as a price agreement, was awarded to MHB's wholly-owned subsidiary, Malaysia Marine and Heavy Engineering Sdn Bhd. On completion, the facilities will be installed offshore Sarawak to support PTTEP’s field development plans. As a price agreement, total revenue will likely depend on the actual number of work orders or 'call-outs' issued by PTTEP over the four-year duration. MHB managing director and chief executive officer Mohd Nazir Mohd Nor said the contract was secured through a competitive bidding process and reflects the group’s more than five decades of offshore expertise.

Source: The Edge Markets March 03, 2026 11:06 UTC