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 two contracts for the Provision of Integrated Hook-Up and Commissioning (i-HUC) Services for PETRONAS Carigali Sdn Bhd (Package B: SBA and Package D: SKO) ("the Contracts").

2. DURATION OF THE CONTRACTS

The duration of the Contracts are for a period of four (4) years effective from 1 January 2020 and shall expire on 31 December 2023.

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 Contracts 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 Contracts.

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 Contracts.

6. DIRECTORS' STATEMENT

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

This announcement is dated 13 January 2020.