MISC and MMHE likely to win two major O&G jobs
Given the local content requirement for the contracts, the research house said it expected MISC to secure the floating production, storage and offloading (FPSO) vessel charter job, while its 66.5%-owned fabrication provider MMHE was likely to win the engineering, procurement, construction, installation and commissioning (EPCIC) contract.
PETALING JAYA: MISC Bhd 
and Malaysia Marine and Heavy Engineering Holdings Bhd ’s (MMHE) are frontrunners for two major contracts from Petronas Carigali’s Limbayong oil and gas field development off Sabah, says AmInvestment Bank Research.
Given the local content requirement for the contracts, the research house said it expected MISC to secure the floating production, storage and offloading (FPSO) vessel charter job, while its 66.5%-owned fabrication provider MMHE was likely to win the engineering, procurement, construction, installation and commissioning (EPCIC) contract.
“For MISC, the earnings impact is likely to be minimal given the group’s huge asset base while the conversion job for MMHE could have a more substantive impact to its depleted order book of RM932mil currently,” it said in its oil and gas sector report.
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