PETALING JAYA: Xin Hwa Holdings Bhd has been appointed as a logistics services panel subcontractor by Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), for a duration of three years, commencing from April 1, 2020.
In its Bursa filing, Xin Hwa explained that the contract does not constitute a commitment for volume of orders.
“The execution of the contract is depending on agreed unit rates and work orders to be issued from time to time at the discretion of MMHE. As such, there is no firm value for the contact,” it said.
However, the company expects to generate an estimate revenue of RM2 million per annum for the contract perioid.
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