KUALA LUMPUR (March 26): Dayang Enterprise Holdings Bhd (KL:DAYANG) said on Wednesday that it has secured two contracts for the provision of accommodation workboats from Hibiscus Petroleum Bhd (KL:HIBISCUS).

DESB Marine Services Sdn Bhd, a wholly owned unit of Dayang, was awarded the two contracts by Hibiscus's subsidiaries, Hibiscus Oil & Gas Malaysia Ltd (HML) and SEA Hibiscus Sdn Bhd, according to Dayang's bourse filings.

The contract with HML is for a duration of 30 days, with two extension options of up to 30 days each. The contract with SEA Hibiscus spans 110 days, with similar extension options.

The value of both contracts will be determined based on work orders issued during the contract period. Both contracts are set to commence within the vessel delivery window from April 14 to April 18, 2025.

Shares of Dayang closed at RM1.95 on Wednesday, down two sen or 1.02%, giving the company a market capitalisation of RM2.26 billion.