PETALING JAYA: Handal Resources Bhd’s unincorporated joint venture, Borneo Seaoffshore - Handal JV has been awarded a RM360 million contract from Petronas Carigali Sdn Bhd.
Handal told Bursa Malaysia that the contract is for the provision of water injection module supply on mobile offshore unit for mobile water injection facilities – Package 4.
The duration of the contract is seven years, commencing from March 2020, with an extension option of a further three years.
Handal said the JV was established to collaborate and submit the technical and commercial proposal to bid for and execute the contract.
The contract is expected to contribute positively to Handal’s earnings for the financial period ended June 30, 2019 and subsequently until the expiry of the contract.
With this latest win, Handal’s order book will surge to more than RM950 million.
