Handal Resources wins onshore crane overhaul, repair services contract

PETALING JAYA: Handal Resources Bhd has bagged a contract to provide onshore overhaul, major repair and refurbishment services for offshore cranes for ExxonMobil Exploration and Production Malaysia Inc at an undisclosed sum.

The group told Bursa Malaysia that the contract works already commenced on July 27 2017, effective for three years ending July 26, 2020, with an option to extend for a year.

Handal said the contract will contribute positively to its performance for the financial years ending December 31, 2017 to 2020.

"The Handal group of companies is continuously looking at replenishing its current order book. With this agreement, it demonstrates the group's capabilities in securing contracts/projects during this challenging time in the oil and gas industry," it noted.

At 12.30pm, the counter fell half a sen to 21 sen on some 80,000 shares done, bringing it a market capitalisation of RM33.6 million.