KUCHING: B.I.G. Industries Bhd (BIG) will invest RM22.9 million in an air separation unit (ASU) to boost industrial gas production capacity.
Wholly-owned subsidiary BIG Industrial Gas Sdn Bhd (BIGG) has entered into a non-related party transaction with Pure Gas Engineering Sdn Bhd (PGE) for the purchase of the ASU for its operation in Samalaju Industrial Park, Bintulu.
BIGG is involved in the manufacturing, distribution and marketing of liquefied or compressed inorganic industrial or medical gases, provision of services and maintenance and wholesaling or trading in related products and pharmaceutical and medical goods as well property development.
PGE is a provider of total gas engineering solutions, specialising in ultra-high purity and clean energy system for the electronic and diverse industries.
“PGE will undertake the design, supply, delivery, installation, testing, commissioning and training for the ASU with a production capacity of 60 tonnes per day.
“BIGG has an existing ASU in Kuching. The purchase will increase the existing production capacity, improve operational efficiency, and is a strategic integration with industries within the vicinity of Bintulu and Samalaju Industrial Park,” BIG said in a filing with Bursa Malaysia.
BIG will use internal generated funds and external bank borrowings for the purchase of the new ASU, which is expected to contribute positively to the group’s future earnings.
Meanwhile, Dayang Enterprise Holdinhgs Bhd (Dayang) said its wholly-owned subsidiary, DESB Marine Services Sdn Bhd (DMSSB), has been awarded a work order for the provision of an accommodation work barge from Petronas Carigali Sdn Bhd (PCSB).
“The value of contract is based on work orders issued by PCSB throughout the contract duration, which is approximately 130 days. The contract will commence on the vessel’s on-hire certificate date with an option to extend up to 60 days.
“Risk factors affecting the contract include execution risks, such as availability of skilled manpower and materials, changes in prices of materials, and changes in political, economic and regulatory conditions. DMSSB shall ensure strict compliance with the safety and operational procedures in the execution of contract requirements,” Dayang told the local bourse.
In another corporate move, Borneo Oil Bhd’s major shareholder and group managing director Datuk Joseph Lee Yok Min @ Ambrose had acquired 15 million company shares following the conversion of Warrant E on July 30.
This increased his direct shareholdings in the company to about 564.75 million units (3.775%) and indirect holdings to 1.327 billion (8.871%).
