News

Contract Secured With Petronas Carigali Sdn Bhd And Murphy Sabah Oil Co.ltd

The Board of Directors of Dayang Enterprise Holdings Bhd ("Dayang" or "The Company") is pleased to announce that its wholly owned subsidiary, Dayang Enterprise Sdn Bhd ("DESB") has received letters of award from :

1 Petronas Carigali Sdn Bhd ("PCSB") on 13 January 2009 for the Provision of Integrated Minor Maintenance Activities For Petronas Carigali Sdn Bhd - Sarawak & Sabah Operations worth approximately RM150,000,000.00. The agreement will commence on 01 January 2009 until 31 December 2011.

2. Murphy Sabah Oil Co. Ltd dated 19 November 2008 for the Provision of Topside Maintenance Services for Murphy's Sabah Productions Operations worth approximately RM50,000,000.00. The duration of the contract is for a period of 3 years.

The Board of Directors of the Company is pleased to clarify that the above mentioned letter of awards valued approxmimately RM200,000,000.00 is expected to contribute positively to the earnings and net assets of the Group for the financial year ended 31 December 2009 and beyond. Notwithstanding this, these letter of awards are not expected to have any material effects on the share capital and shareholding structure of the Company. There are no significant risks in fulfilling the contracts obligation.

None of the Directors and/or substantial shareholders of the Company or persons connected to the said Directors and/or substantial shareholders have any direct or indirect interest in the contract.

This announcement is dated 13 January 2009.