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Kim Heng units clinch US$35 million of contracts

Units of Kim Heng have been awardedUS$35 million of contracts in Taiwan

Units of Kim Heng, namel Kim Heng Marine & Oilfield (KHMO), Khan Hin Engineering (KHE), and its 49% owned subsidiary Bridgewater Marine (Taiwan) L(BMT) have been awarded multiple contracts totalling US$35 million comprising of new builds and sale of various existing marine and land-based marine assets. The contracts were awarded by establised construction companies in Taiwan. KHMO was warded US$17.3 million of contracts, KHE US$14.6 million and BMT US$3.1 million.

Under the Contracts, KHMO and KHE will provide design, engineering and shipbuilding for the new vessel builds. Completion date is scheduled for 4Q2023. The contracts are expected to contribute positively to the group’s earnings per share and net tangible assets for the financial year ending December 31,  2022 and December 31, 2023.

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