CEO Morning Brief

Uzma Unit Bags RM40 Mil Contract From Sarawak Shell

Publish date: Thu, 26 Jan 2023, 09:23 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (Jan 25): Uzma Bhd has bagged a contract from Sarawak Shell Bhd worth US$9.3 million (RM40 million).

The contract, secured by its 70%-owned unit Malaysian Energy Chemical & Services Sdn Bhd (Mecas), is for the provision of kinetic hydrate inhibitor, corrosion inhibitor and associated services for Shell Timi field.

The five-year contract will be valid from Jan 20, 2023 to Jan 19, 2028, said Uzma in a stock exchange filing.

Shares of Uzma settled up one sen or 1.61% at 63 sen on Wednesday (Jan 25), giving it a market capitalisation of RM221.78 million.

Source: TheEdge - 26 Jan 2023

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