KUALA LUMPUR: Malaysia-listed port operator Bintulu Port Holdings has engaged engineering services company Integrated Marine Works (IMW) for maintenance dredging works worth MYR21.9 million (USD5.3 million).
The contract was signed by Bintulu Port, a wholly owned subsidiary of Bintulu Port Holdings, including 6% Goods and Services Tax (GST) in the sum of MYR1.3 million.
Meanwhile, the maintenance dredging works will be conducted at Bintulu Port, Sarawak, Malaysia, over a span of four months, according to the port operator’s filing to Bursa Malaysia.
Previously, Bintulu Port Holdings’ profit slid in the second quarter of 2015 by 31% year on year to MYR20.8 million. The drop was partly attributed to the high costs incurred over the period from lease concession assets amortisation and depreciating expenses for assets capitalised since second half of 2014.
