Uzma secures RM40mil contract from Sarawak Shell

KUALA LUMPUR: Uzma Bhd's 70%-owned subsidiary Malaysian Energy Chemical & Services Sdn Bhd has accepted a contract from Sarawak Shell Bhd for the provision of a kinetic hydrate inhibitor, corrosion inhibitor and associated services for the Shell Timi field.

In a filing with Bursa Malaysia, the group said the contract is valued at RM40mil over its five-year duration from Jan 20, 2023 to Jan 19, 2028.

"The contract is expected to contribute positively towards the earnings and net assets per share of the company for the financial year ending 30 June 2023 and onwards until the expiry of the Contract," it said.