KUALA LUMPUR (Yosefardi) – Pantech Group Holdings Berhad has made inroads to the Indonesian oil and gas market via its wholly owned subsidiary, Pantech Steel Industries Sdn Bhd.
Pantech Steel has secured a contract value of USD 1.5 million (RM 4.8 million) to supply induction long bends to be used by Pertamina, the Indonesian state-owned oil and natural gas corporation.
Shipment of the induction long bends to Indonesia is scheduled for 2QFY2014. The revenue contribution will be for the financial year ending 28 February 2014.