Quick take: Dayang rises on Mubadala contract

KUALA LUMPUR: Shares in Dayang Enterprise Holdings Bhd rose in active trading Friday after securing a three-year maintenance contract from Mubadala Petroleum’s entity, MDC Oil & Gas (SK320) Ltd.

The oil and gas services provider added 1.68%, or two sen to RM1.21, its highest in two weeks.

Dayang said the contract was awarded to its wholly-owned Dayang Enterprise Sdn Bhd (DESB) for the provision of Pan Malaysia maintenance, construction and modification (PM-MCM).

Dayang said the contract was effective from Dec 9,2020, and should expire on July 16,2023, with an option to extend for a period of one year.

It said the value of the contract was based on work orders issued by Mubadala Petroleum throughout the contract duration and shall include any or all other work and services which is generally related to the scope of works in this PM-MCM Contract at a fixed schedule of rates.

Earlier, Dayang won a contract extension from Sarawak Shell Bhd.

It said its wholly-owned subsidiary DESB Marine Services received the contract extension for the provision of an accommodation workboat, Dayang Opal.

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Dayang , Mubadala Petroleum , MDC Oil & Gas


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