Handal Resources wins contract to maintain 19 cranes

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KUALA LUMPUR (May 9): Handal Resources Bhd has clinched a contract for the provision of maintenance, repair and manpower services for 19 cranes located offshore peninsular Malaysia.

The group said the contract was awarded to is wholly-owned subsidiary Handal Offshore Services Sdn Bhd, by Repsol Oil & Gas Malaysia Ltd.

Handal said the contract does not have a specified value, as it is on a “call-out” basis, whereby the work orders will be awarded at the discretion of Repsol, based on its activity schedule and maintenance and repair schedule throughout the duration of the contract.

“The duration of the contract is for a period of three years, commencing from April 10, with an extension option of one year,” it added in  a filing with Bursa Malaysia.

Shares of Handal ended 0.5 sen or 1.41% higher at 36 sen today, for a market capitalisation of RM63.24 million.