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Kim Heng Offshore & Marine unit bags contract from repeat customer
A WHOLLY-OWNED subsidiary of Kim Heng Offshore & Marine Holdings has secured another horizontal directional drilling contract, expected to commence in September 2019.
The contract was awarded by a repeat customer following the successful completion of its first marine civil engineering contract.
The integrated offshore and marine value chain services provider said the project is expected to contribute positively to the group's earnings per share and net tangible asset for the financial year ending Dec 31, 2019.
"We are delighted to secure the project works to support our venture into renewable energy services for shallow-water subsea cable-laying and wind farm projects in Asia," the group said in a press statement on Wednesday.