1. Introduction

The Board of Directors of Malaysia Marine and Heavy Engineering Holdings Berhad (“MHB” or “the Company”) is pleased to announce that Malaysia Marine and Heavy Engineering Sdn. Bhd. (“MMHE”), a wholly-owned and major subsidiary of MHB has been awarded a Price Agreement Contract for Engineering, Procurement, and Construction (“EPC”) of Marginal Field Design Platform (“MFDP”) for up to eleven (11) Wellhead Platform (“WHP”) facilities by PTTEP SARAWAK Oil Limited and PTTEP HK Oil Limited (“PTTEP”) [“Contract”].  

MMHE and PTTEP shall collectively be referred to as the (“Parties”) and individually referred to as (“Party”).

The consent from PTTEP for MHB to release this announcement to Bursa Malaysia Securities Berhad was obtained on 3 March 2026.

2. Salient Terms of the Contract 

The salient terms of the Contract are as follows:-

a)   The Contract covers EPC for the MFDP relating to WHP facilities.

b)    MMHE is tasked with fabricating up to eleven (11) WHP development projects. Each WHP weighs approximately 1,500-2,000 metric tonnes, and upon completion, the facilities will be deployed to off the coast of Sarawak, offshore East Malaysia, to support PTTEP’s field development plans.

c)    The overall programme is planned over a period estimated for four (4) years.

3. Risk Factors

The success of the Contract may be influenced by a range of external and internal risk exposures, including, subcontractors' deliverables and performance, market volatility, and project execution challenges. MMHE has proactively assessed these risks and implemented comprehensive mitigation strategies to effectively manage and mitigate any adverse impact on the Contract.

4. Financial Effects

The Contract does not have any effect on the issued share capital or shareholding structure of MHB.

The Contract is expected to contribute positively to the earnings and net assets of the MHB Group financial year ending 31 December 2026 and beyond up to its completion.

5. Directors’ and Major Shareholders’ Interests

None of the Directors and/or major shareholders and/or persons connected with the Directors and/or major shareholders of MHB has any direct or indirect interest in the Contract.

6. Directors’ Statement

The Board of Directors have considered all the relevant factors relating to the Contract and is of the opinion that entering into the Contract is in the best interest of the Company.

This announcement is dated 3 March 2026.