Page 35 - Oil&Gas-AustralAsia-2015-Issue-2
P. 35
M ALAYSIA
MHB Attains Pretax Profit
Of RM35 Million in the
1st Quarter 2015
• Higher revenue of RM719 million The offshore business segment has who was appointed in March 2015, will
compared to the same corresponding also further defined its organisational continue the transformation
quarter of last year and the preceding structure to ensure all projects are programme of the Company.
quarter delivered safely, on time, within budget Abu Fitri commented “We are already
• Profit before taxation of RM35 million and with customer service excellence. seeing improvements in efficiency and
• Secured new contract on Hook Up & The new organisation comprises the cost management in our project
Commissioning for Kanowit project establishment of a production centric execution. Moving forward, the
valued at RM30.4 million unit focusing on production KPIs and increased emphasis would be on
• Secured marine repair and refurbish- a business centric unit having accounta- business development and marketing”.
ment contract from South Korea bility of project delivery to our “The business we are in remains
Malaysia Marine and Heavy customers. challenging with tough operating
Engineering Holdings Berhad (MHB) MHB’s marine business segment posted conditions. Nevertheless, we are
is pleased to announce its financial higher revenue and profit against the cautiously optimistic in building up our
results for the three (3) months ended corresponding quarter mainly due to order book in the medium term (within
31 March 2015. The Group achieved a the higher value of repair works for the next 9-12 months). Our immediate
revenue of RM719 million with profit rigs, Floating Storage Units (FSU) and priorities are to focus on smaller EPCIC
before tax of RM35 million. general cargo vessels. For the quarter jobs to keep the yards running and
For the quarter under review, MHB under review, the marine business our people busy”.
has successfully completed the Jacket segment secured another enbloc repair “The Group is taking up new challenges
structure for the SK316 Wellhead and refurbishment contract from South in bidding for international offshore
Platform (WHP) project. Korea’s Pan Ocean. The agreement and onshore fabrication projects. We
MHB’s offshore business segment effectively secures six (6) VLOC vessels are reasonably optimistic that we are
achieved a revenue of RM616 million. for dry docking repairs scheduled able to compete effectively for jobs in
Currently, the Group is fabricating the throughout 2015. the overseas market. We are currently
Malikai EPC Tension Leg Platform During the quarter under review, MHB pursuing some RM7 billion worth of
(TLP), the SK316 CPP and WHP, the attained a net profit of RM36 million. projects both internationally and
Besar-A WHP and Jacket, the North Earnings per share (“EPS”) attributable locally” added Tuan Haji Abu Fitri. §
Malay Basin Project’s Bergading WHP, to equity holders of MHB is 2.3 sen for
Jackets and connecting bridge and the the first quarter ended 31 March
External Turret Mooring System for 2015. With ongoing investments in
the PETRONAS Floating Liquefied the yard optimisation programme,
Natural Gas 2 project. For the quarter the Group’s property, plant and
under review, the offshore business equipment have increased to RM1.62
segment secured a Hook Up & billion. Total equity has increased to
Commissioning contract for the RM2.67 billion.
Kanowit project valued at RM30.4 Managing Director & Chief Executive
million. Officer Tuan Haji Abu Fitri Abdul Jalil,
www.oilandgasaustralasia.com A AMAY/JUNE 2015 OIL & GAS ustral SIA 33
MHB Attains Pretax Profit
Of RM35 Million in the
1st Quarter 2015
• Higher revenue of RM719 million The offshore business segment has who was appointed in March 2015, will
compared to the same corresponding also further defined its organisational continue the transformation
quarter of last year and the preceding structure to ensure all projects are programme of the Company.
quarter delivered safely, on time, within budget Abu Fitri commented “We are already
• Profit before taxation of RM35 million and with customer service excellence. seeing improvements in efficiency and
• Secured new contract on Hook Up & The new organisation comprises the cost management in our project
Commissioning for Kanowit project establishment of a production centric execution. Moving forward, the
valued at RM30.4 million unit focusing on production KPIs and increased emphasis would be on
• Secured marine repair and refurbish- a business centric unit having accounta- business development and marketing”.
ment contract from South Korea bility of project delivery to our “The business we are in remains
Malaysia Marine and Heavy customers. challenging with tough operating
Engineering Holdings Berhad (MHB) MHB’s marine business segment posted conditions. Nevertheless, we are
is pleased to announce its financial higher revenue and profit against the cautiously optimistic in building up our
results for the three (3) months ended corresponding quarter mainly due to order book in the medium term (within
31 March 2015. The Group achieved a the higher value of repair works for the next 9-12 months). Our immediate
revenue of RM719 million with profit rigs, Floating Storage Units (FSU) and priorities are to focus on smaller EPCIC
before tax of RM35 million. general cargo vessels. For the quarter jobs to keep the yards running and
For the quarter under review, MHB under review, the marine business our people busy”.
has successfully completed the Jacket segment secured another enbloc repair “The Group is taking up new challenges
structure for the SK316 Wellhead and refurbishment contract from South in bidding for international offshore
Platform (WHP) project. Korea’s Pan Ocean. The agreement and onshore fabrication projects. We
MHB’s offshore business segment effectively secures six (6) VLOC vessels are reasonably optimistic that we are
achieved a revenue of RM616 million. for dry docking repairs scheduled able to compete effectively for jobs in
Currently, the Group is fabricating the throughout 2015. the overseas market. We are currently
Malikai EPC Tension Leg Platform During the quarter under review, MHB pursuing some RM7 billion worth of
(TLP), the SK316 CPP and WHP, the attained a net profit of RM36 million. projects both internationally and
Besar-A WHP and Jacket, the North Earnings per share (“EPS”) attributable locally” added Tuan Haji Abu Fitri. §
Malay Basin Project’s Bergading WHP, to equity holders of MHB is 2.3 sen for
Jackets and connecting bridge and the the first quarter ended 31 March
External Turret Mooring System for 2015. With ongoing investments in
the PETRONAS Floating Liquefied the yard optimisation programme,
Natural Gas 2 project. For the quarter the Group’s property, plant and
under review, the offshore business equipment have increased to RM1.62
segment secured a Hook Up & billion. Total equity has increased to
Commissioning contract for the RM2.67 billion.
Kanowit project valued at RM30.4 Managing Director & Chief Executive
million. Officer Tuan Haji Abu Fitri Abdul Jalil,
www.oilandgasaustralasia.com A AMAY/JUNE 2015 OIL & GAS ustral SIA 33
