September 6, 2023 [The Edge]- Integrated oil and gas (O&G) service provider Dayang Enterprise Holdings Bhd’s wholly-owned unit Dayang Enterprise Sdn Bhd (DESB) has received a one-year and four-month extension to the company’s topside major maintenance services contract from Sarawak Shell Bhd and Sabah Shell Petroleum Co Ltd.
In a bourse filing on Tuesday (Sept 5), the company said the contract’s new extended period runs from Aug 20, 2023, until Dec 31, 2024.
Dayang Enterprise did not place a value on the extension as it noted that it will be based on work orders issued by Sarawak Shell and Sabah Shell throughout the extended period.
“The contract will have no effect on the issued capital of the company and is expected to contribute to the earnings of Dayang Enterprise over the duration of the contract,” it added.
The initial contract DESB was awarded from Sarawak Shell and Sabah Shell spanned a period of two years and three months from April 29, 2021, to Aug 19, 2023.
Shares in Dayang Enterprise ended two sen or 1.12% lower at RM1.76, giving the company a market capitalisation of RM2.04 billion.
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