DNex’s unit secures RM7.49 milion project from Johor Port

KUALA LUMPUR, Dagang Nexchange Bhd’s (DNex) wholly-owned subsidiary, OGPC Sdn Bhd, has accepted a letter of award (LOA) from Johor Port Bhd for a RM7.49 million project.

In a filing with Bursa Malaysia today, DNex said the LOA include the investigation, design, supply, installation, testing and commissioning of new four units of 10 inches marine loading arm (MLA) complete with hydraulic system and Siemens PLC control system to replace the existing manually operated MLA.

It said the project duration is 310 days, commencing May 16, 2019.

Barring any unforeseen circumstances, the project is expected to contribute positively towards DNex’s future earnings and net assets per share over the project’s tenure, it added.

Source: BERNAMA (News Agency)