KUALA LUMPUR (July 26): Shares in Uzma Bhd rose 6.36% this morning after its unit Uzma Engineering Sdn Bhd (UESB) secured a five-year umbrella contract from Petronas Carigali Sdn Bhd for the provision of drilling fluids and associated services for Petroleum Arrangement Contractors (PACs).

At 9.15am, Uzma rose 7 sen to RM1.17 with 178,200 shares done.

In a filing with Bursa Malaysia, Uzma said there is no firm value for the umbrella contract, as it depends on work orders to be issued to it from time to time at the discretion of PACs.

The tenure of the umbrella contract is five years from the date of the Letter of Award dated May 30, 2018.