Kim Heng scoops $5 million worth of deals

Singapore’s offshore services provider Kim Heng Offshore & Marine has secured various fabrication jobs valued at S$7 million ($5.2 M) from an unnamed customer.

One of Kim Heng’s vessels bought last year, now named Mazu 60; Source: Emas

Kim Heng said on Monday that the completion of fabrication jobs was scheduled to take place over six months.

The work under the deals will be done for “a well-established customer” of the company. No other details regarding the deals were disclosed.

According to the company, the start of the work is set for the first quarter for the financial year ending on December 31, 2019.

Kim Heng added that, barring unforeseen circumstances, the contracts were expected to contribute positively to the group’s earnings per share and net tangible assets.

Kim Heng business is split as follows: Offshore Rig Services & Supply Chain Management, Heavy-lift Equipment, Vessel Sales & Newbuilds

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