Labuan Shipyard and Engineering Sdn Bhd aims to secure at least two major projects from Petroliam Nasional Bhd (Petronas) and Shell worth RM150 million this year.
Its chief executive officer Azman Nasir said the company, which is bidding for RM800 million worth of fabrication and shipbuilding projects locally, has been shortlisted for four projects that it bid for last year.
The projects -- Shell's F14, D12 and Laila and Petronas' Bulan B -- are all located in East Malaysia. He was speaking to reporters after a signing ceremony between Labuan Shipyard and Malaysia Building Society Bhd (MBSB) for loan facilities here today.
The company also aims to secure the contract for the Tanjung Kapal Services (M) Sdn Bhd second diesel electric propulsion platform supply vessel (PSV).
"We are proceeding well with our first vessel and it is scheduled to be completed in June 2013, but we are targeting to complete it three months earlier, which shows to our client that we are very serious with our business," he said.
Azman added Labuan Shipyard is also targeting at least three major refit and repair vessel projects from the government, each costing more than RM50 million.
Azman said the company is also eyeing projects valued at more than RM100 million in Permas, Endau and Belut fields from Murphy Oil Corp and Hess Aremada next month.
He said as at Dec 31, 2011, the company's book order stood at RM170 million comprising major shipbuilding and minor fabrication projects in the oil and gas sector.
"Hence, we are confident this year we will achieve revenue of about RM300 million, compared to the estimated revenue of RM100 million in 2011, backed by these projects," Azman said.
Meanwhile, MBSB chief executive officer Datuk Ahmad Zaini Othman said the deal between Labuan Shipyard is for the Murabahah Tawarruq financing facility of up to RM41 million and Kafalah bank guarantee of up to RM10 million.
"This is for the purpose of the engineering, construction, testing and delivery of the 77m Dynamic Positioning 2 diesel electric PSV," he said.
He added the company believes that such financial assistance would greatly benefit its corporate customers by easing their cash flow, allowing them to focus on business at hand while the bank attends to their capital needs. -- Bernama
Its chief executive officer Azman Nasir said the company, which is bidding for RM800 million worth of fabrication and shipbuilding projects locally, has been shortlisted for four projects that it bid for last year.
The projects -- Shell's F14, D12 and Laila and Petronas' Bulan B -- are all located in East Malaysia. He was speaking to reporters after a signing ceremony between Labuan Shipyard and Malaysia Building Society Bhd (MBSB) for loan facilities here today.
The company also aims to secure the contract for the Tanjung Kapal Services (M) Sdn Bhd second diesel electric propulsion platform supply vessel (PSV).
"We are proceeding well with our first vessel and it is scheduled to be completed in June 2013, but we are targeting to complete it three months earlier, which shows to our client that we are very serious with our business," he said.
Azman added Labuan Shipyard is also targeting at least three major refit and repair vessel projects from the government, each costing more than RM50 million.
Azman said the company is also eyeing projects valued at more than RM100 million in Permas, Endau and Belut fields from Murphy Oil Corp and Hess Aremada next month.
He said as at Dec 31, 2011, the company's book order stood at RM170 million comprising major shipbuilding and minor fabrication projects in the oil and gas sector.
"Hence, we are confident this year we will achieve revenue of about RM300 million, compared to the estimated revenue of RM100 million in 2011, backed by these projects," Azman said.
Meanwhile, MBSB chief executive officer Datuk Ahmad Zaini Othman said the deal between Labuan Shipyard is for the Murabahah Tawarruq financing facility of up to RM41 million and Kafalah bank guarantee of up to RM10 million.
"This is for the purpose of the engineering, construction, testing and delivery of the 77m Dynamic Positioning 2 diesel electric PSV," he said.
He added the company believes that such financial assistance would greatly benefit its corporate customers by easing their cash flow, allowing them to focus on business at hand while the bank attends to their capital needs. -- Bernama
