Dayang Enterprise Holdings Bhd ("Dayang" or "the Company") is pleased to announce that Dayang Enterprise Sdn Bhd ("DESB"), a wholly-owned subsidiary of Dayang, has on 21 May 2013 received a letter of award from Petronas Carigali Sdn Bhd ("PCSB") for the Provision of Hook-Up, Commissioning and Topside Major Maintenance Services for 2013 to 2018. 

The duration of the Contract is for a primary period of five (5) years effective from 21 May 2013 and shall expire on 20 May 2018. 

FINANCIAL EFFECTS

The Contract will not have any effect on the Company's issued and paid-up share capital and the shareholdings of the Company's substantial shareholders.

The Contract is expected to contribute positively to the earnings and net assets per share of Dayang Group for the duration of the Contract.

RISK FACTORS

The risks associated with the Contract are mainly the normal operational and financial risks encountered by Dayang Group. The Company has considered the contractual performance and financial risks and after due analysis, the Company is of the view that the likelihood and impact of these risks are considered manageable and within acceptable level.

DIRECTORS' AND SHAREHOLDERS' INTEREST

None of the Directors, major shareholders of Dayang or its subsidiaries and/or persons connected with them has any interest, direct or indirect on the Contract.

DIRECTORS' STATEMENT

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

This announcement is dated 27 May 2013.