KUALA LUMPUR (Feb 17): Uzma Bhd, via its wholly-owned subsidiary Uzma Engineering Sdn Bhd, was awarded a three-year contract from Petronas Carigali Sdn Bhd for the provision of self-cleaning through tubing perforation.
The oil and gas service and equipment company has received the letter of award dated Nov 25, 2022, and the contract commenced from Nov 30, 2022, and will end on Nov 29, 2025, it said in a filing with Bursa Malaysia.
According to the filing, 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.
However, it is expected to contribute positively towards earnings and net assets per share of the company for the financial year ending June 30, 2023 and onwards, until the expiry of the contract, the filing read.
Uzma's share price fell two sen or 3.08% to settle at 63 sen on Friday (Feb 17), giving it a market capitalisation of RM220.05 million.