KUALA LUMPUR (Feb 7): LEAP Market-listed Steel Hawk Bhd has secured a contract extension from E&P O&M Services Sdn Bhd (EPOMS) for the provision of scaffolding services for EPOMS' operations in Peninsular Malaysia.
In a bourse filing on Wednesday, the group said the contract had been extended for another year to Feb 9, 2025. The contract was initially awarded in February 2022 for a contract period of two years with a one-year extension option.
EPOMS is a wholly owned subsidiary of Petronas Carigali Sdn Bhd.
"For clarification, the contract is on a call-out basis (which does not have a fixed contract value), and we are engaged by EPOMS to provide specified services for the duration of the said contract, as and when such services are required," said Steel Hawk.
The group expects the contract to contribute positively to its earnings for the financial year ending Dec 31, 2024.
In December 2023, Steel Hawk also received a one-year contract extension from Petronas Carigali for the provision of onshore facilities maintenance, construction and modification services.
It is worth noting that Steel Hawk had recently appointed Tengku Saifan Rafhan Tengku Putra, a member of the Selangor royal family, as an independent and non-executive director, and former inspector general of police Tan Sri Acryl Sani Abdullah Sani as its independent and non-executive chairman.
Shares in Steel Hawk, which is seeking to transfer its listing to the ACE Market, were last traded at 28 sen on May 10, giving the company a market capitalisation of RM44.8 million.