KUALA LUMPUR: Uzma Bhd's unit Malaysian Energy Chemical & Services Sdn Bhd (Mecas) has secured a contract from Hibiscus Oil and Gas Malaysia Ltd for the supply of chemicals and related services for PM3.
The agreement entails the provision of chemicals and associated services for PM3 over a five-year term.
Commencing on November 16, 2023, and extending until November 15, 2028, its value will be based on work orders issued by Hibiscus Oil & Gas during the contract period, it said in a filing with Bursa Malaysia.
The contract will not have any effect on the share capital and shareholding structure of the company as it does not involve the issuance of ordinary shares in the company.
However, it is expected to contribute positively towards the earnings and net assets per share of the company for the financial year ending June 30, 2024 and onwards until the expiry of the contract respectively.-ends-