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 three (3) work orders from PETRONAS Carigali Sdn Bhd (“PCSB” or the “Charterer”) respectively on 23 January 2025, 7 February 2025 and 20 February 2025 for the Provision of Three (3) Units Accommodation Work Boat (“AWBOAT”) vessels (“Contracts”).
2. DETAIL OF THE CONTRACTS
The Contracts will commence on the respective Vessel’s on-hire certificate date (“Commencement Date”). The duration of the Contracts as below: -
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Contract 1
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Contract 2
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Contract 3
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Vessel
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Dayang Opal
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Dayang Zamrud
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Dayang Ruby
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Duration
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One Thousand Forty-Three (1043) days with an option to extend up to Eight Hundred Twenty-Nine (829) days
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One Thousand and Five (1005) days with an option to extend up to Eight Hundred Twenty-Nine (829) days
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One Thousand Twenty (1020) days with an option to extend up to Eight Hundred Twenty-Nine (829) days
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The value of the Contracts is based on 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, 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 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.
This annoucement is dated 24 March 2025.