1. INTRODUCTION

The Board of Directors of Dayang Enterprise Holdings Bhd (“DEHB” or “the Company”) is pleased to announce that its wholly-owned subsidiary company, DESB Marine Services Sdn Bhd (“DESB Marine”), has been awarded a contract for the Provision of Accommodation Work Boat (AWBOAT) from PETRONAS Carigali Sdn Bhd (“PCSB”).

2. VALUE AND DURATION OF THE CONTRACT

The value of the Contract is based on work orders issued by PCSB throughout the contract duration. The contract duration is approximately Two Hundred Fourteen (214) days from the commencement date effective from 03 February 2023 with an option to extend up to Sixty (60) days.

3. RISK FACTORS

Risk factors affecting the Contract include execution risks such as availability of skilled manpower and materials, changes in prices of materials, changes in political, economic and regulatory conditions. DESB Marine shall ensure strict compliance with the safety and operational procedures in the execution of contract requirements.

4. FINANCIAL EFFECTS

The Contract will have no effect on the issued capital of the Company and is expected to contribute to the earnings of DEHB over the duration of the Contract.

5. DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTEREST

None of the directors, major shareholders and/or persons connected to them has any direct or indirect interest in the Contract.

6. DIRECTORS’ STATEMENT

The Board of Directors of the Company is of the opinion that the acceptance of the Contract is in the best interest of the Company.

This announcement is dated 27 February 2023.