Malaysia Marine and Heavy Engineering Holdings Berhad (MHB) has announced its financial results for the first nine months of 2014.
The group achieved revenue of RM 2.2 billion and a net profit of RM 113 million. Quarterly highlights included the completion of upgrading works for an LNG carrier.
LNG carrier repairs
The marine business segment successfully completed a major repair, dry docking, upgrading, new installation and life extension work for an international client on an LNG carrier.
The upgrading restored the 71,909 dwt LNG carrier to its optimum operational performance. The marine business also broadened the type of vessels repaired at its MMHE West Yard, to accommodation work barges, as it repaired the external hull and internal electrical-machinery parts for a vessel.
Commenting on the results, CEO Dominique de Soras, said: “The lower oil prices could lead to even greater emphasis on project economics by our clients. The group’s ongoing investments in the yard optimization programme, transformation initiatives and strengthened management focus at the offshore business segment would enhance MHB’s overall project execution capabilities.
“The offshore business segment has also recently won and secured some new fabrication contracts that would contribute positively to the group’s financial performance in the coming financial year. MHB continues to work closely with our joint-venture partner, Technip, in bidding for other projects as TMJV can offer a complete turnkey engineering, procurement, construction, installation and commissioning (EPCIC) solution for an entire project to our clients”.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/lng-shipping/05112014/mhb-completes-lng-carrier-repair-works-1730/