KUALA LUMPUR (Sept 4): Dayang Enterprise Holdings Bhd’s Pan Malaysia contract with Kebabangan Petroleum Operating Company Sdn Bhd (KPOC) to provide maintenance, construction and modification services has been extended by a year and five months till end-2024.

The integrated oil and gas provider said in an exchange filing the contract has been extended from July 17, 2023, until Dec 31, 2024.

The original five-year contract, which was slated to expire on July 16 this year, had the option to extend for a period of one year.

No value on the extension was provided in the filing, as Dayang Enterprise said it would be based on work orders issued by KPOC throughout the extended period.

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

Just last month, Dayang Enterprise’s Pan Malaysia contract with Hibiscus Oil and Gas Malaysia Ltd to provide maintenance, construction and modification services was also extended for another year and five months till end-2024.

Shares in Dayang Enterprise ended seven sen or 3.78% lower at RM1.78, giving the company a market capitalisation of RM2.06 billion.

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