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, Dayang Enterprise Sdn Bhd ("DESB"), has been awarded a contract for the Provision of Hook-up, Commissioning and Topside Major Maintenace Services for PETRONAS Carigali Sdn Bhd - Peninsular (Non-ANGSI and OGT, OSC & TGAST Related Works ("Contract").

2. DURATION OF THE CONTRACT

The duration of the Contract is for a period of fifteen (15) months effective from 16 August 2019 and shall expire on 15 November 2020.

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 and paid-up capital of the Company and is expected to contribute positively to the earnings of DEHB over the duration of the Contract.

4. DIRECTORS' AND MAJOR SHAREHOLDERS' INTEREST

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.

5. 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 3 September 2019.