KUALA LUMPUR (Oct 14): Handal Energy Bhd has won a contract to provide ad-hoc offshore crane operator services from Enquest Petroleum Production Malaysia Ltd.
In a bourse filing, Handal said there is no specific value to the contract awarded to its wholly-owned subsidiary Handal Cranes Sdn Bhd.
The tenure of the contract is for three years, starting Aug 3, with an option to extend for one year.
"The contract is expected to contribute positively to the earnings of Handal group for the financial year ending June 30, 2021 and in subsequent financial years, until the expiry of the contract,” the group said.
Yesterday, Handal said another wholly-owned subsidiary, Handal Offshore Services Sdn Bhd, had received a letter of award from Carigali Hess Operating Company Sdn Bhd for the provision of pedestal crane inspection and maintenance services.
That contract, for which a value was not indicated, is for three years starting Sept 15, with an option to extend for two more years.
Handal’s share price closed up one sen or 5.26% at 20 sen today, bringing the group a market capitalisation of RM43.71 million. Some 1.26 million shares were traded.