OTHERS HANDAL RESOURCES BERHAD ("HRB" or the "Company") Goods and Services Outline Agreement between Handal Offshore Services Sdn. Bhd. and ExxonMobil Exploration and Production Malaysia Inc. ("EMEPMI")
|HANDAL RESOURCES BERHAD|
HANDAL RESOURCES BERHAD ("HRB" or the "Company") Goods and Services Outline Agreement between Handal Offshore Services Sdn. Bhd. and ExxonMobil Exploration and Production Malaysia Inc. ("EMEPMI")
The Board of Directors of HRB is pleased to announce that Handal Offshore Services Sdn. Bhd. (HOSSB), a wholly owned subsidiary of HRB has entered into a Goods and Services Outline Agreement with EMEPMI for the provision of offshore crane maintenance services to EMEPMI (“Agreement”).
The Agreement is for the primary term of three (3) years, effective from 10 April, 2017 until 9 April 2020, with an option for 1 year extension and is expected to contribute positively to increase in earnings and net assets per share of the HRB Group for the financial year ending 31 December 2017.
The risks associated with the Agreement are normal operational risks which can be mitigated through HRB system of project management and internal business controls.
None of the Directors or major shareholders of HRB or persons connected to them have any interest, direct or indirect, in the above Agreement.
The Handal Group of companies is continuously looking at replenishing its current order book. With this Agreement, it demonstrates the Handal Group’s capabilities in securing contracts/projects during this challenging time in the Oil and Gas Industry.
This announcement is dated 13 April 2017.
|Company Name||HANDAL RESOURCES BERHAD|
|Date Announced||13 Apr 2017|
|Category||General Announcement for PLC|