OTHERS HANDAL RESOURCES BERHAD ("HRB" or the "Company") Provision for the Supply and Delivery of Coflexip Hoses for Roof Drains and Foam Drain and Supervision works at Malaysian Refining Company Sdn Bhd (the "Contract")

HANDAL RESOURCES BERHAD

Type Announcement
Subject OTHERS
Description
HANDAL RESOURCES BERHAD ("HRB" or the "Company")
Provision for the Supply and Delivery of Coflexip Hoses for Roof Drains and Foam Drain and Supervision works at Malaysian Refining Company Sdn Bhd (the "Contract")

The Board of Directors of HRB is pleased to announce that Handal Engineering Sdn. Bhd. (“HESB”), a wholly owned subsidiary of HRB has on 11 August 2017 received a Letter of Award dated 7 August 2017 from Malaysian Refining Company Sdn Bhd (“MRCSB”) for the provision for the supply and delivery of Coflexip hoses for roof drains and foam drain and supervision works at MRCSB.

 

The duration of the Contract is effective 9 August 2017 until 31 December 2020 (hereinafter referred to as the Contract Period).

 

The manpower and contract rates to be charged for the services to be rendered will only be decided at the point of time that the service is being provided during the tenure of the Contract 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 Contract 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 Contract. 

 

The Handal Group of companies is continuously looking at replenishing its current order book. With this Award, 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 15 August 2017.






Announcement Info

Company Name HANDAL RESOURCES BERHAD
Stock Name HANDAL
Date Announced 15 Aug 2017
Category General Announcement for PLC
Reference Number GA1-14082017-00063