Uzma wins RM68.1mil contracts from Sabah Shell

KUALA LUMPUR: Uzma Bhd’s subsidiary Malaysian Energy Chemical & Services Sdn Bhd (MECAS) has secured two contracts worth RM68.1mil from Sabah Shell Petroleum Company Limited.

In a filing with Bursa Malaysia, Uzma said the three years contract effective 2023 until 2026 is for the provision of integrated production and integrity chemical and associated services for Malikai Stage 1 and Gumusut Kakap.

"The contracts will not have any effect on the share capital and shareholding structure of the company as it does not involve the issuance of ordinary shares in the company.

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

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