Uzma secures contract worth RM 12.3mil for chemical supply

by NUR HAZIQAH A MALEK

Uzma Bhd (Uzma) through its wholly-owned foreign subsidiary MMSVS Group Holding Co Ltd, Thailand has secured a contract to supply provision of chemicals and services for the Bualuang field In a worth RM12.32 million.

In a filing to Bursa Malaysia Uzam said the contract is for a period of three years.

“The salient terms of the contract include MMSVS’s scope of work comprises the supply of production chemicals and oilfield chemicals, including technical services for the Chemical Management Program for the Bualuang Field the Gulf of Thailand.

“The duration of the contract is for a period of three years on a callout basis where the services shall be provided upon Medco Energi Thailand’s written callout notice,” it noted.

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, 2021 and onwards until the contract’s expiry date.

Uzma’s share price closed at 68 sen on Friday.