Dayang’s wholly-owned subsidiary DESB Marine Services Sdn Bhd secured contract extension awards from Petronas Carigali.
KUALA LUMPUR (Feb 15): Dayang Enterprise Holdings Bhd’s wholly-owned subsidiary DESB Marine Services Sdn Bhd secured contract extension awards from Petronas Carigali Sdn Bhd on Oct 6, 2023, for the provision of three units of accommodation workboat.
In a filing with Bursa Malaysia, the oil and gas support services contractor said the value of the extended contracts was based on work orders issued by Petronas Carigali throughout the duration of the contract extension.
It said the contract extension for the first vessel, Dayang Zamrud, commenced on Oct 27, 2023, for 279 days, while for the second vessel, Dayang Pertama, the extension started on Oct 10, 2023, for 296 days.
The contract extension for the third vessel, Dayang Berlian, began on Oct 25, 2023, for 281 days, it said.
“Risk factors affecting the extended contracts include execution risks such as availability of skilled manpower and materials, changes in prices of materials, changes in political, economic and regulatory conditions.
“DESB Marine shall ensure strict compliance with the safety and operational procedures in the execution of contract requirements,” it said.
The extended contracts would not affect the issued capital of the company and are expected to contribute to its earnings over the extended duration of the same, it added.
– Bernama
