KUALA LUMPUR (July 1): Dialog Group Bhd announced today that it has been awarded a master service agreement from Petroliam Nasional Bhd (Petronas), in relation to plant maintenance and turnaround works for the national oil firm’s plants groupwide.

In an exchange filing today, Dialog said the contract, awarded to its wholly-owned subsidiary Dialog Plant Services Sdn Bhd, covers integrated plant turnaround works and daily mechanical static maintenance work and is valid for a period of five years, with an option to extend by Petronas.

It is expected to contribute positively to Dialog’s earnings and net assets starting from the financial year ending June 30, 2020 (FY20), the company said. 

Commenting on the award, Dialog’s executive chairman Tan Sri Dr Ngau Boon Keat said the long-term contract award enables the group to stay competitive and sustain growth.

“The long-term contract award will enable Dialog to continue to develop and enhance the competency of our workforce, and maintain our competitiveness in the industry, while pursuing our mission in sustaining growth for the group,” Ngau, who is the founder and majority shareholder of Dialog, said. He holds a 20.03% stake in the company. 

Dialog’s share price gained one sen or 0.3% at RM3.27 today, bringing a market capitalisation of RM18.44 billion.