KUALA LUMPUR: Uzma Bhd's foreign subsidiary Uzma Engineering Limited Philippine Branch has inked a well services contract with Philippine Geothermal Production Company Inc to provide drilling cementing services.
In a filing to Bursa Malaysia, Uzma said the scope of work comprised providing drilling cementing services for Philippine Geothermal's geothermal fields in the Philippines.
"The contract is effective from Sept 1, 2024, and remains valid until Aug 31, 2027," it added.
Uzma expects the contract to contribute positively towards the earnings and net assets per share of the company from the financial year ending June 30, 2025 onwards until the expiry of the contract.
The company said potential risk factors for the project include operational and execution risks, work schedules, delivery timelines and adverse weather conditions