KUALA LUMPUR: Bintai Kinden Corp's subsidiary Bintai Energy Sdn Bhd has secured a series of sub-contracts from Petro Flanges & Fittings Sdn Bhd to supply piping material to oil and gas-related companies in Malaysia.

       In a statement, the group said the contract, which is valued at RM1.6mil, includes the supply of pipes, valves, fittings and flanges for onshore and offshore pipeline projects.

       The contracts are non-renewable and estimated to be completed within four to 10 weeks from the commencement date, subject to the term of each contract.

       They are not expected to have any material effect on the issued and paid up share capital of Bintai Kinden but is expected to contribute positively towards the future earnings of the group.

       Bintai Energy is a 51:49 joint venture between Bintai Kinden and PFF, set up to supply materials and equipment to the local and international O&G industry including the Middle East via the distributorship channel of PFF.

       “The O&G industry has staged a strong recovery with higher crude oil prices. We are seeing an upward trend in all segments.

       "There are a few more opportunities in the pipeline that we are currently working hard on and we hope to deliver more good news in the near future,” said Bintai Kinden executive director Azri Azerai.