Dayang Enterprise bags three-year maintenance contract from Mubadala

Dayang Enterprise bags three-year maintenance contract from Mubadala
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KUALA LUMPUR (Jan 14): Oil and gas maintenance services firm Dayang Enterprise Holdings Bhd has been awarded a three-year maintenance contract from Mubadala Petroleum’s entity, MDC Oil & Gas (SK320) Ltd.

In a filing with Bursa Malaysia today, Dayang said the contract was awarded to its wholly-owned Dayang Enterprise Sdn Bhd (DESB) for what it termed the "Provision of Pan Malaysia Maintenance, Construction and Modification (the PM-MCM Contract)".

"The value of the contract is based on work orders issued by Mubadala Petroleum throughout the contract duration and shall include any or all other work and services which is generally related to the scope of works in this PM-MCM Contract at a fixed schedule of rates," it said.

The contract, which took effect on Dec 9, 2020 and will expire on July 16, 2023, comes with a one-year extension option.

Dayang shares fell 1 sen or 0.83% to close at RM1.19 apiece today, giving it a market capitalisation of RM1.26 billion.

Tan Choe Choe