UZMA Bhd’s subsidiary, MMSVS Group Holding Co Ltd Thailand, has secured a contract from PTTEP International Limited worth approximately RM43.9 million.

The contract, identified as MMC23-5067, involves providing standard and special application of coiled tubing and pumping services for Zawtika Operations (Backup Contract).

It was issued to MMSVS by PTTEPI on April 16, 2024.

The Zawtika project is a gas field development project located in the Gulf of Moattama, Myanmar.

It told the bourse today that the contract was issued to MMSVS by PTTEPI on April 16, 2024 and is effective from May 1, 2024, to June 30, 2026.

The contract is anticipated to have a favourable impact on Uzma Berhad’s earnings and net assets per share from the financial year ending June 30, 2024, and continuing until the contract’s conclusion.

Its board of Directors deems the contract acceptance as beneficial for the company. — TMR