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BackNov 23, 2018
Type Announcement
Subject OTHERS
Description

DAYANG ENTERPRISE HOLDINGS BHD - AWARD OF CONTRACT

1. INTRODUCTION

The Board of Directors of Dayang Enterprise Holdings Bhd ("DEHB" or "The Company") is pleased to announce that its wholly-owned subsidiary, Dayang Enterprise Sdn Bhd ("DESB") has been awarded a subcontract by Gujurly Inzener ("GI") for the Provision of Facilities Maintenance Support in Turkmenistan operated by Petronas Carigali (Turkmenistan) Sdn Bhd ("PC(T)SB).

2. VALUE AND DURATION OF THE CONTRACT

The value of the Contract is based on work orders issued by PC(T)SB throughout the duration of the Contract and shall include any or all other work and services which is generally related to the scope of works in this Contract at a fixed schedule of rates.

The duration of the Contract is for a primary period of three (3) years effective from 1 January 2019 and shall expire on 31 December 2021 with an option to extend for a period of one (1) year.

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. Notwithstanding 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 capital of the Company and is expected to contribute positively to the earnings of the Company over the duration of the Contract.

5. DIRECTORS' AND MAJOR SHAREHOLDERS' INTEREST

None of the Directors and/or major shareholders and/or persons connected with the directors and/or major shareholders 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 23 November 2018.





Announcement Info

Company Name DAYANG ENTERPRISE HOLDINGS BERHAD
Stock Name DAYANG
Date Announced 23 Nov 2018
Category General Announcement for PLC
Reference Number GA1-23112018-00044