KUCHING: One of Ta Ann Holdings Bhd’s veneer rotary mills in Southwood site, southern Tasmania, Australia has its operation disrupted by recent bush fires.
According to Ta Ann, the bush fires are now under control and the extent of the damages to the mill is under assessment.
“The plant is nevertheless fully insured and assessment is now being undertaken.
“The management is taking all necessary mitigation measures and action plans after a thorough assessment is completed,” the company said in a filing with Bursa Malaysia.
The affected mill is owned by subsidiary company, Ta Ann Tasmania Pty Ltd (TAT).
Ta Ann said the bush fires had no impact on its other veneer mill located in the north of Tasmania whereby the veneer and plywood processing activities are going on smoothly.
Ta Ann spread its wings to Tasmania when it constructed its first veneer mill in Huon in 2007 and the second mill in Smithton in 2008. This was followed by the construction of a plywood mill about five years ago.
The plywood mill produces a new premium grade product for the construction industry sold mainly in the Australian market under the brand T-Ply.
According to Ta Ann Tasmania, total investments in the veneer mills and plywood mill is about A$96 million.
In 2017, the Tasmania veneer lines produced 84,753 cu m of products, which was higher than 79,154 cu m in 2016. The sales volume was 85,145 cu m in 2017 and 74,222 cu m in 2016.
Meanwhile, Barakah Offshore Petroleum Bhd’s wholly-owned unit PBJV Group Sdn Bhd has been awarded a farm-in agreement by IPC Malaysia B.V. for the provision of Pan Malaysia Maintenance, Construction and Modification (PM-MCM) contract for 2018-2023 Package A (West Malaysia).
“The scope of the contract will generally include maintenance, construction and modification works for structures and facilities for the client’s oil and gas fields, offshore Peninsular Malaysia.
“The total value of the contract is not fixed and will depend on the actual scope based on work orders to be issued by the client from time to time throughout the duration of the contract,” Barakah told Bursa Malaysia on Monday.
The contract duration is from Nov 22, 2018 to July 10, 2023.
Miri-based Samling Energy Sdn Bhd is a substantial shareholder of Barakah.
PBJV Group secured several new and extension contracts in the oil and gas sector in July and August last year. These include a contract from Sapura Exploration and Production (PM) Inc for the PM-MCM Package A (2018-2023) and another similar contract from Enquest Petroleum Production Malaysia Ltd.
PBJV was then given extension by Petronas Gas Bhd for the provision of repair and maintenance of Sabah and Sarawak gas pipeline for an additional one year.
Petronas also granted a conditional contract extension to PBJV for the provision of transportation and installation of offshore facilities until Dec 26, 2019.
