KUCHING: Dayang Enterprise Holdings Bhd expects some of the new works orders for its hook-up commissioning (HUC) contracts, which are based on call-up basis, to come slower than earlier anticipated from oil majors.
This is because Petroliam Nasional Bhd (Petronas) and all other oil majors are re-negotiating with their contractors and service providers with a view of lowering their capital expenditures and operating expenditures by up to 30% if world’s crude oil price remains at the current low level following the recent plunge, according to the company executive chairman Datuk Hasmi Hasnan and managing director Tengku Datuk Yusof Tengku Ahmad Shahruddin.
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