KUALA LUMPUR (Oct 30): Deleum Bhd's (KL:DELEUM) 86.67%-owned indirect subsidiary Deleum Technology Solutions Sdn Bhd (DTS) has bagged two contracts for the provision of Pan Malaysia offshore maintenance, construction, modification (MCM) and hook-up commissioning (HUC) services. The contract value was not disclosed.

In a bourse filing on Wednesday, Deleum said the contracts are for Package A1 - Peninsular Malaysia Asset (PMA), which is oil-related, and Package A4 - Sarawak Asset (SKA), which is gas-related. The two contracts were awarded by Petronas Carigali Sdn Bhd to DTS. The scope of works includes the provision of manpower, tools and equipment, materials, consumables and other related services.

Both contracts are effective Sept 27 for a period of five years, with an extension option of one term of three years and thereafter one term of two years.

Deleum said the contracts are expected to contribute positively to its revenue, earnings and net assets for the duration of the contracts. The contracts will be funded via internally generated funds.

Deleum shares closed unchanged at RM1.44 on Wednesday, giving it a market capitalisation of RM578.24 million. The stock has risen 50.8% year-to-date.