Handal Energy gets crane inspection, maintenance contract

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KUALA LUMPUR (Oct 13): Handal Energy Bhd’s wholly-owned Handal Offshore Services Sdn Bhd (Handal Cranes) has received a letter of award from Carigali Hess Operating Company Sdn Bhd for the provision of pedestal crane inspection and maintenance services.

In a filing with the bourse, the group said the contract, which it did not indicate the value of, is for three years, starting Sept 15, with an option to extend for two more years.

“The contract is expected to contribute positively to the earnings of Handal group for the financial year ending June 30, 2021, and in subsequent years, until the expiry of the contract,” Handal said.

Handal shares closed unchanged at 19 sen today, translating to a market capitalisation of RM41.58 million.

Tan Choe Choe