ENRA in pre-joint bidding cooperation with China Offshore for FSO
ENRA Group Bhd's indirect subsidiary, Hexagon Energy Logistics Sdn Bhd, has entered into a pre-joint bidding cooperation agreement with China Offshore Engineering & Technology Co Ltd to jointly bid for a floating storage and offloading (FSO) project in Southeast Asia. The agreement, which is non-binding and does not create any financial obligations, will serve as a framework for the parties to work together in preparing and submitting a joint bid for the upcoming tender.
Hexagon Energy Logistics and China Offshore intend to negotiate the specific scope of work, pricing, and responsibilities once the official tender documents are issued. The agreement is expected to remain effective until a definitive agreement is signed, the project is cancelled, or both parties mutually agree to discontinue their pursuit of the project.
ENRA Group Bhd expects the agreement to have no immediate material impact on its earnings, net assets, or gearing for the financial year ending March 31, 2027.
Brief written by urgent.news from New Straits Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
