General Announcement for PLC
17/12/2020OTHERS UZMA BERHAD ("UZMA" OR "THE COMPANY") - LETTER OF AWARD FOR THE PROVISION OF SERVICE CONTRACT FOR DESIGN, ENGINEERING, FABRICATION, HOOK-UP, COMMISSIONING, OPERATION, MAINTENANCE AND DECOMMISSIONING OF PORTABLE WATER INJECTION MODULE (PWIM) (CONTRACT NO: CHO/2019/OE/1006)
| UZMA BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | UZMA BERHAD ("UZMA" OR "THE COMPANY")
- LETTER OF AWARD FOR THE PROVISION OF SERVICE CONTRACT FOR DESIGN, ENGINEERING, FABRICATION, HOOK-UP, COMMISSIONING, OPERATION, MAINTENANCE AND DECOMMISSIONING OF PORTABLE WATER INJECTION MODULE (PWIM) (CONTRACT NO: CHO/2019/OE/1006) |
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1. Introduction The Board of Directors of Uzma (“Uzma” or “the Company”) is pleased to announce that Uzma Engineering Sdn. Bhd. (“UESB”), a wholly-owned subsidiary of the Company has received a Letter of Award from PETRONAS Carigali Sdn. Bhd. (“PCSB”) for the Provision of Portable Water Injection Modules (“PWIM”) for 12-years contract period (“Contract”). PCSB’s letter of award was dated 12 November 2020 (“Letter of Award”) which was subsequently approved for announcement by PCSB on 17 December 2020.
2. Salient Terms The salient terms of the Contract are as follows:-
(a) UESB’s scope includes design, engineering, procurement, fabrication, installation, hook- up, commissioning, operation and maintenance of the PWIM (“Scope of Works”).
(b) The first two (2) years of the contract duration shall be provisioned for Design, Engineering, Fabrication, Installation, Hook-Up and Commissioning to Supply Base of PWIM Modules.
(c) The PWIM Modules shall be on Operation & Maintenance (“O&M”) mode for a minimum of 10 years respectively for each unit.
(d) The value of the Contract is approximately Ringgit Malaysia One Hundred and Thirty Million Only (RM130,000,000.00) over the estimated contract period.
3. Risk factors Potential risk factors include project operational and execution risks, work schedules, delivery timelines and adverse weather conditions.
4. Financial effects The Contract is expected to contribute positively towards the earnings and net assets per share of the Company for the financial year ending 30 June 2021 and onwards until the expiry of the Contract.
5. Directors’ and Major Shareholders’ Interests None of the Directors and/or major shareholders and/or persons connected with the Directors and/or major shareholders of Uzma has any direct or indirect interest in the Contract.
6. Directors’ Statement The Board of Directors of the Company, after considering all the relevant factors, is of the opinion that the acceptance of the Letter of Award is in the best interest of the Company.
This announcement is dated 17 December 2020. |
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Announcement Info
| Company Name | UZMA BERHAD |
| Stock Name | UZMA |
| Date Announced | 17 Dec 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-17122020-00030 |