INTRODUCTION

The Board of Directors (“the Board”) of KKB Engineering Berhad (“KKB”) is pleased to announce that its subsidiary company, OceanMight Sdn Bhd has received Letter of Award from the PTTEP Sarawak Oil Limited for the Provision of Engineering, Procurement, Construction and Commissioning (EPCC) of Pemanis Satellite (PESA) Topside for PTTEP’s Sarawak SK309 Development (Contract No. CP16003) (“CONTRACT”).

A formal agreement for the said CONTRACT shall be executed in due course.

DURATION OF CONTRACT

The project execution period is Eleven (11) months.

FINANCIAL EFFECTS

The CONTRACT will have no effect on Share Capital of KKB and is expected to contribute positively towards the earnings and net assets of the Group for the duration of the CONTRACT.

RISK FACTORS

Risk factors affecting the CONTRACT include execution risks such as availability of skilled manpower and materials, changes in pricing, weather conditions and/or political, economic and regulatory conditions.

DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS

None of the Directors and/or major shareholders and/or person connected with them has any interest, direct or indirect in the abovementioned CONTRACT.

DIRECTORS’ STATEMENT

The Board is of the opinion that the abovementioned CONTRACT is in the best interest of KKB and its Group.

This Announcement is dated 6 January 2020.