KUALA LUMPUR (Aug 17): Integrated oil and gas service provider Dayang Enterprise Holdings Bhd's Pan Malaysia contract with Hibiscus Oil and Gas Malaysia Ltd to provide maintenance, construction and modification services has been extended by another one year and five months until Dec 31, 2024.

The original contract duration was for a period of five years expiring July this year, with an option to extend for a one-year period.

In a filing with Bursa Malaysia on Thursday (Aug 17), Dayang said its wholly-owned subsidiary Dayang Enterprise Sdn Bhd had agreed on an amendment and extension of the provision of the Pan Malaysia maintenance, construction and modification contract with Hibiscus Oil and Gas.

No contract value was given, as the actual value would ultimately depend on work orders being received by Dayang.

"The contract will have no effect on the group's issued capital, and is expected to contribute to earnings over the duration of the contract," said Dayang.

Dayang shares closed down three sen or 1.97% at RM1.49 on Thursday, giving the group a market capitalisation of RM1.73 billion.