KUALA LUMPUR (Sept 30): Handal Power Bhd has bagged a agreement to present offshore crane operations and servicing expert services.
In a submitting nowadays, Handal stated its device Handal Cranes Sdn Bhd experienced secured the agreement from Sarawak Shell Bhd (SSB) and Sabah Shell Petroleum Co Ltd (SSPC).
Handal claimed the deal entailed the provision of functions, upkeep, repair and manpower expert services for 29 offshore cranes below SSB and SSPC positioned off the waters of Sarawak and Sabah.
The enterprise reported the contract is for a time period of two yrs from Oct 15, with an extension alternative of 1 calendar year.
Handal stated the deal does not have a specified price as it is on a “phone-out” basis whereby the work orders will be awarded at the discretion of SSB/SSPC based mostly on its activity program and routine maintenance and mend program all over the length of the contract.
Handal mentioned the deal is envisioned to add positively to its earnings for the money yr ending June 30, 2020 and subsequently until finally the expiry of the deal.
At the midday split these days, Handal shares were down 2.74% or 1 sen at 35.5 sen, valuing the firm at RM77.68 million.