Wednesday 07 Jun 2023
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KUALA LUMPUR (June 20): Uzma Bhd has bagged a contract worth US$10 million (about RM44.01 million) to provide hydraulic workover unit (HWU) services in Thailand from the PTTEP Group.

The oil and gas service provider said in a filing with Bursa Malaysia that the contract was secured by its wholly owned foreign subsidiary, MMSVS Group Holdings Co Ltd, on May 25.

"The duration of the contract is for a period of three years on a callout basis, where the services shall be provided upon PTTEP's written callout notice," Uzma said, adding the new job is expected to start contributing to its earnings and net assets per share from the financial year ending June 30, 2022 until the expiry of the contract.

Shares in Uzma finished 0.5 sen or 1.3% lower at 38 sen, valuing the group at RM132.06 million. Year to date, the stock has dropped 17.39%.

Edited ByTan Choe Choe
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