Boustead Heavy Industries Corp Bhd (BHIC) is expected to secure more fabrication contracts over the next few months with “possible surprises” from the defence sector, said Alliance Research Sdn Bhd.
The research house said BHIC would continue to bid for new contracts and was “in the process” of renewing its Petronas fabrication licence to bid for local oil and gas (O&G) fabrication projects.
“We believe this will contribute positively to the group’s earnings from the financial year ending Dec 31(FY08) onwards,” it said in an update.
On Monday, BHIC told Bursa Malaysia that it was awarded three contracts totalling RM203.2mil.
The Alliance Research report said: “The overseas contract from Carigali-PTTEPI Operating Co Sdn Bhd to build Muda living quarters marks the re-entry of BHIC into the O&G industry.”
The engineering, procurement, construction and commissioning contract for the JDA Block B-17 development worth US$27mil (RM86.4mil) is estimated to be completed within 15 months.
Meanwhile, BHIC has secured a recurring order from Sarawak’s Sealink Sdn Bhd to build two chemical tankers worth US$32.7mil.
