KUALA LUMPUR (June 10): Deleum Bhd (KL:DELEUM) has bagged a letter of award (LOA) worth RM105 million from Petronas Carigali Sdn Bhd (PCSB) — a wholly owned subsidiary of Petroliam Nasional Bhd (Petronas).

In a filing to the bourse on Monday, Deleum said its 86.67%-owned indirect subsidiary Deleum Technology Solutions Sdn Bhd (DTS) had been awarded the LOA to provide offshore maintenance, construction and modification (MCM) services, covering Peninsular Malaysia assets (gas package) for the year 2024.

It said the contact period is from May 16 to Dec 31, 2024.

Deleum said the contract is expected to contribute positively to its earnings for the duration of the contract.

It said the contract is expected to be funded via internally generated funds.

At midday break on Monday, Deleum rose 2.80% or four sen to RM1.47, with 785,400 shares traded.