<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 21): A unit of Uzma Bhd has clinched two contracts estimated to worth RM450 million for the provision of hydraulic workover and plug and abandonment operation from Petronas Carigali Sdn Bhd (PCSB).</p></div>

<div class=newsTextDataWrapInner><p>Uzma said the contracts to the group’s wholly owned unit Uzma Engineering Sdn Bhd involved the supply of minimum one 340K rating hydraulic workover unit (HWU) rig and minimum one 460K rating HWU rig for PCSB’s workover and well plug and abandonment operations offshore Malaysia.</p></div>

<div class=newsTextDataWrapInner><p>For each HWU rig, Uzma said the supporting accommodation work barge and portable crane are also part of the scope of works. The duration of the contracts will be for three years with an extension option of one-year, effective May 17, 2023 until May 16, 2026, Uzma said in its filing on Wednesday (June 21).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Uzma believes the contracts will contribute positively towards the earnings and net assets per share of the company for the financial year ending June 30, 2023 (FY2023) and onwards until the expiry of the contract.</p></div>

<div class=newsTextDataWrapInner><p>Uzma's share price closed unchanged at 62 sen on Wednesday, valuing the group at RM216.55 million.</p></div>


A unit of Uzma Bhd has clinched two contracts estimated to worth RM450 million for the provision of hydraulic workover and plug and abandonment operation from Petronas Carigali Sdn Bhd (PCSB).

Uzma’s unit clinches RM450m contract from Petronas Carigali

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<p>The government will continue its Special Appreciation for Pensioners (PKKP) initiative, aimed at supporting affected pensioners and derivative pension recipients, to ensure the welfare of this group is well taken care of.</p>


<p>The launch of a new direct route from Chennai to Penang, via IndiGo, commencing on Saturday, marks a significant milestone in enhancing connectivity, generating economic opportunities, and solidifying Penang’s position as a regional air travel hub.</p>


<p>Honda and&nbsp;Nissan are considering producing vehicles in one another's factories as part of their plan to&nbsp;deepen ties&nbsp;and potentially merge, Japan's <em>Kyodo </em>news agency said on Saturday.</p>


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<p>Pahang Islamic Affairs, Rural Development, and Orang Asli Affairs Committee chairman Datuk Seri Syed Ibrahim Syed Ahmad has confirmed that a video alleging&nbsp;the allocation of durian plantation land in Pahang to retired soldiers is fake.</p>


<p>OpenAI is preparing to launch a new artificial intelligence (AI) model that it said is capable of more advanced human-like reasoning than its current offerings, ratcheting up the competition with rivals such as Alphabet Inc’s Google.</p>


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<p>The Johor government has completed seven housing projects, categorised as ‘sick’ and abandoned, this year, representing an estimated property value of about RM700 million.</p>
