UZMA Bhd’s foreign subsidiary, MMSVS Group Holding Co Ltd Thailand, has accepted a contract extension from Medco Energi Thailand (Bualuang) Limited for the provision of hydraulic workover unit (HWU) services offshore Thailand.

The extension, effective from March 20, 2024, will last for two years.

The contract is expected to positively impact Uzma’s earnings and net assets per share until its expiration in 2026.

Its board of directors believes the contract is in the company’s best interest, and no directors, major shareholders, or related parties have a direct or indirect interest in it. — TMR