KUALA LUMPUR: Handal Resources Bhd
has secured a contract to provide onshore overhaul, major repair and refurbishment services for offshore cranes from ExxonMobil Exploration and Production Malaysia Inc.
In a filing with Bursa Malaysia Thursday, Handal Resources said its wholly owned subsidiary, Handal Offshore Services Sdn Bhd has entered into a goods and services outline agreement with ExxonMobil for the provision of onshore overhaul, major repair and refurbishment services for offshore cranes.
“The value of the services to be rendered will only be determined at the point of time that the service is being provided during the tenure of the contract and is expected to contribute positively to increase in earnings and net assets per share of the Handal group for the financial year ending Dec 31, 2017,” Handal Resources said.
It added that the agreement was for three years, effective July 27 until July 26, 2020, with an option for one year extension.