KUALA LUMPUR (March 23): Oil and gas contractor Uzma Bhd has bagged a three-year contract from Petronas Carigali Sdn Bhd worth RM180 million.
The scope of work includes non-rig assisted electric wireline logging equipment and services, Uzma said in a bourse filing.
The contract awarded to Uzma’s wholly-owned subsidiary Uzma Engineering Sdn Bhd is for a three-year period from March 3.
“The contract 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,” said Uzma.
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, 2021 and onwards until the expiry of the contract, added the group.
Uzma’s share price closed two sen or 1.84% down at 80 sen, for a market capitalisation of RM252.02 million. Some 7.27 million shares changed hands.