KUALA LUMPUR: Uzma Bhd's subsidiary Setegap Ventures Petroleum Sdn Bhd has secured a one-year contract extension valued at RM100 million from Petronas Carigali Sdn Bhd.
The extension, involving the provision of provide coiled tubing and services at offshore East Malaysia, commenced on Dec 1 last year and will run until Nov 30 this year.
This follows the original contract awarded in November 2015, following two previous renewals in 2020 and 2022.
"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.
"It is expected to contribute positively towards the earnings and net assets per share of the company for the financial year ending June 30, 2025 and onwards until the end of the contract," Uzma said in a filing with Bursa Malaysia.
Uzma shared closed 2.5 sen or 3.4 per cent lower at 70.5 sen, valuing the company at RM311.1 million.