KUALA LUMPUR (Aug 17): Dayang Enterprise Holdings Bhd has been selected to provide topside major maintenance services for Shell in Sabah and Sarawak.
In a bourse filing, the group said its unit Dayang Enterprise Sdn Bhd was awarded the contract by Sarawak Shell Bhd and Sabah Shell Petroleum Company Ltd.
The value of the contract is based on work orders issued by the two Shell units, effective July 23 until the completion of the work this year.
"The board of directors of the company is of the opinion that the acceptance of the contract is in the best interest of the company," Dayang said, adding it expects the contract to positively contribute to its earnings.
Dayang shares were up 2.59% or three sen at RM1.19 today, valuing the company at RM1.26 billion. The counter saw 5.56 million shares exchanging hands.
Source: The Edge Markets