Dayang Enterprise bags 2 five-year jobs; value based on work orders

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KUALA LUMPUR (Aug 20): Dayang Enterprise Holdings Bhd has secured two five-year maintenance, construction and modification contracts via its wholly-owned subsidiary Dayang Enterprise Sdn Bhd (DESB).

DESB secured the contracts from Kebabangan Petroleum Operating Company Sdn Bhd and Repsol Oil & Gas Malaysia Ltd (Repsol O&G), according to Dayang's stock exchange filing today.

Both contracts commenced from July 17 this year and will expire on July 16, 2023, with an option to extend for another one year.

Dayang said the value of the contracts are based on work orders issued by Kebabangan Petroleum and Repsol O&G throughout the contracts' duration and shall include any or all other work and services which are generally related to the scope of works in these contracts, at a fixed schedule of rates.

Dayang shares closed unchanged at 74 sen today, giving it a market capitalisation of RM713.96 million.