Deleum indirect unit secures PETRONAS job

KUALA LUMPUR: Deleum Bhd’s 86.67%-owned indirect subsidiary Deleum Technology Sdn Bhd has secured a contract from PETRONAS Carigali Sdn Bhd for the provision of offshore maintenance, construction and modification services covering Peninsular Malaysia assets (gas package) for 2024.

In a filing with Bursa Malaysia, Deleum said the contract, valued at RM105mil, will run from May 16, 2024 to Dec 31, 2024.

It said the contract is expected to be funded via internally generated funds.

“The contract is expected to contribute positively to the revenue, earnings and net assets of Deleum and its group of companies for the duration of the contract,” it added.

For the first quarter ended March 31, 2024, Deleum’s net profit rose to RM9.24mil from RM9.12mil in the previous corresponding period, while revenue improved to RM161.42mil from RM123.44mil a year earlier.

Basic earnings per share stood at 2.30 sen versus 2.27 sen previously.