Ramunia likely to get job from Hyundai Heavy
New Straits Times
8 June 2005

Ramunia Holdings Bhd is expected to secure a contract from Hyundai Heavy Ind Co Ltd to supply a set of 83-metre stinger worth US$3 million (US$1 = RM3.80)

It told Bursa Malaysia Bhd yesterday that Hyundai Heavy has awarded a letter of intent to Ramunia’s subsidiary Ramunia Fabricators Sdn Bhd.

Stinger is a pipeline support structure used for Hyundai Heavy’s offshore pipe-laying barge.

Ramunia is expected to sign the contract agreement by the end of this month and deliver the stinger by the end of August this year.

It said the deal will be reflected in Ramunia’s financial performance by October 31 2005.