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, DESB Marine Services Sdn Bhd (“DESB Marine”), has been awarded contract extension for the Provision of Two (2) Units of Accommodation Work Boat (AWBOAT) from PETRONAS Carigali Sdn Bhd (“PCSB”) on 3 November and 9 November 2023.

2. VALUE AND DURATION OF THE EXTENDED CONTRACTS

The value of the Extended Contracts is based on work orders issued by PCSB throughout the duration of the extended contracts. The contract extension duration is as below: -

3. RISK FACTORS

Risk factors affecting the Extended Contracts include execution risks such as availability of skilled manpower and materials, changes in prices of materials, changes in political, economic and regulatory conditions. DESB Marine shall ensure strict compliance with the safety and operational procedures in the execution of contract requirements.

4. FINANCIAL EFFECTS

The Extended Contracts will have no effect on the issued capital of the Company and is expected to contribute to the earnings of DEHB over the extended duration of the same.

5. DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTEREST

None of the directors, major shareholders and/or persons connected to them has any direct or indirect interest in the Extended Contracts.

6. DIRECTORS’ STATEMENT

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

This announement is dated 14 Feb 2024