Dayang Enterprise (Dayang) secures two contracts for the provision of Pan Malaysia Maintenance, Construction, Modification (MCM) and Hook and Commissioning (HUC) services for Package A3 (Sarawak Asset SKA Oil) and A5 (Sabah Asset SBA Southern) from Petronas Carigali. The contract duration is 5-year plus three- and two-years extension options (5+3+2). There is no contract value announced as it is based on call-out work order, however, we estimate the combination of both contracts is approximately worth RM3.0bn for the first five years. The contract award is broadly within our estimates as we have highlighted in our previous reports. We make no changes on our estimates as the contract is part of our orderbook replenishment. We maintain our Outperform call and TP of RM4.65.
Source: PublicInvest Research - 14 Nov 2024
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DAYANGCreated by PublicInvest | Nov 22, 2024