Kuala lumpur: MISC Bhd's share price experienced an increase of 1.75 per cent on Monday after the company secured a significant contract from Malaysia LNG Sdn Bhd (MLNG), the operator of Petronas liquefied natural gas (LNG) Complex located in Bintulu, Sarawak.

According to BERNAMA News Agency, the contract involves a long-term charter agreement for a newly built 18,700 cubic metres (cbm) LNG carrier. The share price of MISC Bhd witnessed a rise of 14 sen to RM8.13 at 10.19 am, with a total of 60,000 shares being traded.

Last Friday, MISC Bhd announced its entry into a shipbuilding contract dated July 30, 2026, with Hudong-Zhonghua Shipbuilding (Group) Co Ltd. This company is recognized as the largest shipbuilding enterprise operating under China State Shipbuilding Corporation Ltd. The agreement pertains to the construction of the LNG carrier.

The project is set for a firm charter period of 10 years, with operations expected to commence in 2028. MISC, through its subsidiary, will be responsible for providing LNG shipping services to MLNG.