SAAG, an oil and gas (O&G) engineering player, expects to know the outcome of its bid for contracts worth RM350mil in the next two months (Sept – Oct 2008).
The group would get the award result for a RM200mil project in India by end of this month (Aug 2008). The award result for a local contract worth RM150mil will be announced in October 2008. The contracts are for the servicing of platform rigs and drilling equipment in mostly O&G upstream activities.
Going forward … The group was preparing to tender for another Indian job worth RM300mil by year-end, also for similar services.
On its current RM700mil order book, the contracts would last until early 2012.
Major current contracts include the supply of work-over rigs, telecommunication towers, sewerage projects and the supply of tankers.
On its delayed Labuan Shipyard Engineering Sdn Bhd joint venture deal, it would be concluded in a month or two (Sept – Oct 2008). The delay was deliberate as they need time to re-evaluate the viability of the project, But, all the details have been ironed out and they are currently finalising the contracts with our Iran counterpart for the supply of rigs.
17 hours ago
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