KUALA LUMPUR, March 31 (Bernama) -- Uzma Bhd’s 70 per cent-owned unit, Uzma LNG Sdn Bhd (ULSB) has inked a two-year liquefied natural gas (LNG) supply contract with ND Paper Malaysia (Selangor) Sdn Bhd (NDP) for RM70 million.
NDP is a subsidiary of Nine Dragons Paper (Holding) Ltd, a company listed on the Hong Kong Stock Exchange.
In a filing with Bursa Malaysia today, the oil and gas service and equipment provider said under a contract signed by ULSB and NDP on March 15, 2023, the supply of LNG would be done via a virtual pipeline to NDP’s factory in Banting.
“The duration of the contract is for two years commencing from March 15, 2023 until March 14, 2025.
“The value of the contract is estimated to be more than RM70 million for year one of the contract, subject to LNG supplied and the prevailing market price of LNG at the time of delivery,” Uzma said.
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