Dayang bags five-year maintenance, construction and modification contract

KUALA LUMPUR (May 1): Dayang Enterprise Holdings Bhd’s wholly-owned unit Dayang Enterprise Sdn Bhd has been awarded a five-year contract by SEA Hibiscus Sdn Bhd for the provision of maintenance, construction and modification (PM-MCM) works.

In a filing with the bourse, the group said the value of the contract will be based on work orders issued by Sea Hibiscus throughout the contract duration starting Nov 2, 2018, and ending on July 16, 2023. The contract also includes a one-year extension option.

“The contract will have no effect on the issued capital of the company and is expected to contribute positively to the earnings of Dayang over the duration of the contract,” it said.

However, it highlighted risk factors such as the availability of skilled manpower and materials, changes in prices of materials, changes in political, economic and regulatory conditions which could affect the award.

Dayang shares dropped one sen to RM1.41, giving it a market capitalisation of RM1.36 billion. — theedgemarkets.com

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