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KUALA LUMPUR (June 15): Bintai Kinden Corporation Bhd has bagged a series of subcontract projects from Petro Flanges & Fittings Sdn Bhd (PFF).

In a statement on Wednesday (June 15), Bintai Kinden said the contracts were awarded to its sub-subsidiary Bintai Energy Sdn Bhd to supply piping materials to established oil and gas (O&G) related companies in Malaysia.

It said under the contract, Bintai Energy will supply high-grade carbon steel or stainless steel pipes, valves and piping accessories to established O&G related companies for maintenance and upgrading works.

Bintai Energy is a 51:49 joint venture between Bintai Kinden’s unit Kejuruteraan Bintai Kindenko Sdn Bhd and PFF.

Bintai Kinden executive director Azri Azerai said that with the award, Bintai Energy had secured in total RM4.6 million in contracts from PFF since April to supply piping materials to local O&G related companies.

“We foresee demand for piping materials to escalate further in tandem with the recovery in the O&G industry,” he added.

Azri said the contracts are expected to contribute positively towards future earnings of the group.

At the midday break, Bintai Kinden was unchanged at 10.5 sen, valuing it at RM89.58 million.

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