Appointment As Panel Of Contractors For Panel Contractor Contract ('pcc') For Offshore Support Vessel ('osv') Services For Petroleum Arrangement Contractors ('pacs') - Petronas[...]

1. INTRODUCTION

The Board of Directors of Dayang Enterprise Holdings Bhd ("DEHB" or "the Company") is pleased to announce that its wholly-owned subsidiary company, DESB Marine Services Sdn Bhd ("DMSSB"), has been appointed by PETRONAS Carigali Sdn Bhd ("PETRONAS Carigali") as one of PETRONAS Carigali's Panel of Contractors for the Panel Contractor Contract (PCC) for Offshore Support Vessel (OSV) Services for Petroleum Arrangement Contractors ("Contract") with a three (3) years Contract duration.

2. RISK FACTORS

Risk factors affecting the Contract include execution risks such as availability of skilled manpower and materials, changes in prices of materials, changes in political, economic and regulatory conditions. DMSSB shall ensure strict compliance with the safety and operational procedures in the execution of contract requirements.

3. FINANCIAL EFFECTS

The Contract will have no effect on the issued capital of the Company and is expected to contribute to the earnings of DEHB over the duration of the Contract.

4. DIRECTORS' AND MAJOR SHAREHOLDERS' INTEREST

None of the directors, major shareholders and/or persons connected to them has any direct or indirect interest in the Contract.

5. DIRECTORS' STATEMENT

The Board of Directors of the Company is of the opinion that the acceptance of the Contract is in the best interest of the Company.

The announcement is dated 15 August 2024.

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