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BackApr 25, 2016
Type Announcement
Subject OTHERS
Description
AWARD OF CONTRACT FOR THE PROVISION OF TOPSIDE MAINTENANCE SERVICES FOR KEBABANGAN PETROLEUM OPERATING COMPANY SDN BHD ("KPOC")

1. INTRODUCTION

 Dayang Enterprise Holdings Bhd is pleased to announce that its wholly-owned subsidiary company, Dayang Enterprise Sdn Bhd ("DESB"), has been awarded a contract by Kebabangan Petroleum Operating Company Sdn Bhd ("KPOC") for the Provision of Topside Maintenance Services for KPOC. ("CONTRACT")

2. VALUE AND DURATION OF CONTRACT

 The Contract is for a period of two (2) years commencing on 16 March 2016, with an option to extend for another one (1) year. The contract value is approximately between RM25.0 million and up to RM42.0 million.

3. RISK FACTORS

Risk factors affecting the award include execution risks such as availability of skilled manpower and materials, changes in prices of materials, changes in political, economic and regulatory conditions. Throughout the years, DESB has established its track record and expertise to undertake these projects. Nothwithstanding this, DESB shall ensure strict compliance to the safety and operational procedures in the execution of contract requirements.

4. FINANCIAL EFFECTS

The Contract will have no effect on the Issued and Paid-Up Capital of the Company and is expected to contribute positively towards the earnings and net assets per share of the Company.

5. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS

None of the Directors and/or major shareholders and/or persons connected with the Directors and/or major shareholders of the Company 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 25 April 2016.





Announcement Info

Company Name DAYANG ENTERPRISE HOLDINGS BERHAD
Stock Name DAYANG
Date Announced 25 Apr 2016
Category General Announcement for PLC
Reference Number GA1-29032016-00044

 


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