“Malaysia Marine and Heavy Engineering Holdings Berhad. What does that even mean?” Let me tell you about MMHE.
Malaysia Marine and Heavy Engineering is a Malaysian company. It provides energy and marine solutions. MHB is known for its expertise in complex projects. These projects include engineering, procurement, construction, and commissioning.
MMHE excels in handling Central Processing Platforms and Wellhead Platforms. They are committed to sustainable profit recovery. Structural transformation is a focus. MMHE aims to capitalize on the offshore and marine industries.
MHB was incorporated in 1989. It was formerly known as MSE Holdings Sdn Bhd. In 2010, it became Malaysia Marine and Heavy Engineering Holdings Berhad.
In 2004, Malaysia International Shipping Corporation Bhd increased its shareholding. They held 65% making them the majority shareholder.
MMHE has achieved significant milestones. The completion of FPSO Kikeh and the Kikeh Spar in 2006. This was Malaysia’s first deepwater project. FPSO Kikeh was the first deepwater FPSO in Malaysia. The Spar platform was the first outside the Gulf of Mexico.
Another achievement was operating the Kiyanly yard in Turkmenistan in 2007. This was on behalf of PETRONAS Carigali.
The Gumusut-Kakap semi-floating production system is also significant. It is the largest facility fully built and integrated on land. MMHE East and MMHE West are the only yards in Southeast Asia to have constructed deepwater facilities in Malaysia.
In 2012, MHB expanded its yard size. They acquired new land for offshore oil and gas structures. This increased Pasir Gudang yard capacity significantly.
MMHE West is the largest fabrication yard in Malaysia by annual tonnage capacity. It has one of the largest dry docks in Southeast Asia.
MMHE provides offshore construction services. They offer engineering and construction for the oil and gas industry. This includes detailed design, procurement, construction, installation, and commissioning.
MMHE is a one-stop center for offshore conversion. They convert vessels into floating structures. These include FPSOs, FSOs, MOPUs, and FSUs.
MMHE focuses on complex marine repair projects. These include LNG carriers and offshore oil rigs. Services include repair, refit, and refurbishment of vessels.
In 2024, MMHE’s total revenue reached RM3,608.6 million. The offshore segment contributed RM3,186.6 million. The marine segment recorded RM422.0 million.
The operating profit for 2024 was RM141.0 million. The offshore division contributed RM110.1 million. The marine segment contributed RM41.0 million.
Net profit for the full year stood at RM121.0 million. This was a significant improvement from previous periods.
MHB has partnerships with industry leaders. These include Samsung Heavy Industries and Technip S.A. These partnerships enhance capabilities and transfer technology.
Today, MHB is a regional provider for the oil and gas industry. They are also a key player for LNG ship repair and dry docking. MHB is a one-stop center for marine conversion.