KKB Engineering awarded RM517 million Samalaju water project
The three-year government contract covers a second-phase upgrade intended to raise water treatment capacity to 200 million litres per day.
KKB Engineering Bhd has secured a RM517 million government award for Samalaju’s water infrastructure in Sarawak, according to its bourse filing. The work will run for three years and represents the group’s second major contract success within a week.
The award came through the Regional Corridor Development Authority (Recoda), which manages development planning for the Sarawak Corridor of Renewable Energy (Score). KKB said the contract covers the second phase of upgrades in Samalaju.
The project targets daily water treatment capacity of 200 million litres, up from 80 million litres, to serve demand from energy-intensive industries. The industrial hub covers 8,000 hectares in Bintulu Division. KKB said it anticipated gains in earnings and net assets from the contract during its term.
Another recent award was a RM462 million contract involving Sarawak Shell Bhd and two other companies. It covers fixed offshore structures for the SK408 Teja & Populus (TePu) and Temu & Inai (TuNai) field development projects, including engineering, procurement and construction work. KKB also obtained orders to supply Hock Seng Lee Bhd and Bumia Sdn Bhd.
KKB reported no borrowings or loans at end-June, when its cash holdings and short-term deposits stood at RM41.58 million. On Oct 1, the stock finished at RM1.20 after falling three sen or 2.44%. Its market capitalisation was RM346.5 million.
