Dayang Enterprise Holdings Bhd has clinched a five-year contract from Oct 14 from Shell for the provision of pan-Malaysia offshore maintenance, construction, modification (MCM) and hook-up commissioning services. The job comes with an optional extension of three years, followed by another two years.

KUALA LUMPUR (Nov 4): Dayang Enterprise Holdings Bhd (KL:DAYANG) has bagged a contract from Shell for the provision of pan-Malaysia offshore maintenance, construction, modification (MCM) and hook-up commissioning (HUC) services.

The contract value was not disclosed but will be based on work orders issues, according to Dayang's bourse filing on Monday. The contract is for Package B4 and was awarded by Sarawak Shell Bhd (SSB) and Sabah Shell Petroleum Company Ltd (SSPC) to its wholly owned unit Dayang Enterprise Sdn Bhd.

The contract is effective from Oct 14 for five years, with an optional extension of three years, followed by another two years.

Dayang shares closed three sen or 1.4% higher at RM2.21 on Monday, giving it a market capitalisation of RM2.56 billion. The stock has risen 38.1% year-to-date.