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Announcement

BackJan 23, 2006
Type Announcement
Subject
ANNOUNCEMENT

Contents :

The Board of Directors of KKB Engineering Berhad (“KKB”) is pleased to announce that pursuant to a Material Supply Contract ("the Contract") dated 30 December 1998 entered into between KKB and a major Oil Marketing Company ("the Oil Company") in Malaysia, for the supply of 210 Litre nominal capacity Steel Drums and Tab Seals to the Oil Company's Kuching Luboil Blending Plant ("KLOBP"), the Oil Company has given a written notice of termination of the Contract to KKB. The effective date of termination is 3 April 2006.


The termination of the Contract is made necessary by the Oil Company's decision to cease operations of its KLOBP for commercial reasons. The Oil Company's offtakes of these Steel Drums and Tab Seals in the recent years vary from MR10 million to MR14 million per annum in value.

KKB is actively looking for other business opportunities to utilize this spare capacity in its Steel Drums division.

The Board of Directors of KKB would like to inform that none of the Directors, substantial shareholders and persons connected with them have any interest in the above contract. The Board is of the opinion that the above contract is in the best interest of KKB and its group of companies.

 

Announcement Info

Company Name KKB ENGINEERING BERHAD  
Stock Name KKB    
Date Announced 23 Jan 2006  
Category General Announcement
Reference No CC-060123-60009