Uzma Bhd’s Thailand subsidiary awarded US$10 million contract

Uzma Bhd’s Thailand subsidiary awarded US$10 million contract

MMSVS Group Holding to provide HWU services.

Thailand subsidiary inks contract worth US$10 million. (Uzmagroup pic)
KUALA LUMPUR:
Uzma Bhd’s wholly owned foreign subsidiary in Thailand, has received a contract worth US$10 million (RM44 million) for the provision of hydraulic workover unit (HWU) services.

In a filing with Bursa Malaysia, Uzma said the contract award to its wholly-owned subsidiary, MMSVS Group Holding Co Ltd Thailand was from companies of PTTEP Group for an estimated period of three years.

“PTTEP’s scope of work comprises HWU and associated equipment service required for workover and well services activities at onshore Thailand. The duration of the contract is for three years on a callout basis where the services shall be provided upon PTTEP’s written callout notice,” it said.

Uzma said PTTEP’s contract was issued to MMSVS on May 25.

“The contract is expected to contribute positively towards the earnings and net assets per share of the company for the financial year ending June 30, 2022 and onwards until the expiry of the contract,” it said.

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