KUALA LUMPUR (Apr 3): Barakah Offshore Petroleum Bhd has bagged the job of providing Kebabangan Petroleum Operating Company Sdn Bhd (KPOC)'s topside maintenance services.

Barakah (fundamental: 1.65; valuation: 0.6), an integrated pipeline service provider, told Bursa Malaysia this afternoon that its wholly owned subsidiary PBJV Group Sdn Bhd had received the Letter of Award from KPOC.

According to Barakah, the contract comprises the provision of topside maintenance services in Sabah, with a duration of one year effective from Apr 2, which has an option for another year. The group expects the mobilisation date of the work to be on May 1.

The value of the contract is not known yet as it will depend on the actual work orders to be issued by KPOC from time to time during the contracted period, but Barakah believes it will contribute positively to its earnings.

As of market break, Barakah fell half sen or 0.58% to 85.5 sen, valuing it at RM671.24 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)