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 received six (6) work order awards from PETRONAS Carigali Sdn Bhd (“PCSB” or “the Charterer”) on 30 July 2024, 1 July 2024 and 1 August 2024, respectively, for the Provision of Six (6) Units of Accommodation Work Boat (“AWBOAT”) Vessels (“Contracts”).

2. DETAIL OF THE CONTRACTS

The Contracts will commence on the Vessel’s on-hire certificate date (“Commencement Date”) and the duration of the Contracts as outlined below:

The value of the Contracts is based on the work orders issued by PCSB throughout the duration of the Contracts.

3. RISK FACTORS

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

4. FINANCIAL EFFECTS

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

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 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.

The Contracts Announcement is not subject to the approval of the shareholders of the Company or any regulatory authorities. However, the approval of the Charterer to release this announcement is required and the Company has on 4th October 2024 obtained the Charterer’s approval to release the same.

This annoucement is dated 7th October 2024.