MAJOR CONTRACT: Ling (third right) is seen exchanging the signed document contract with Nnene while witnessed by the representatives from Dayang and Shell. Dayang signed a major contract with Shell for HUC, and topside maintenance works.
MIRI: Dayang Enterprise Holdings Bhd (Dayang) has signed a major contract worth around RM2.5 billion with Sarawak Shell Bhd (SSB) and Sabah Shell Petroleum Co Ltd (Sabah Shell) at Imperial Palace Hotel yesterday for hook up and commissioning (HUC), and topside maintenance works.
The contract has a five year duration contract with an option for a one-year extension.
At the signing ceremony, Dayang was represented by its executive deputy chairman Ling Suk Kiong while general manager of Shell Nnene-Anochie had signed the contract document on behalf of Shell.
Ling in his address said the Shell contract which was awarded to Dayang is the single largest job secured by the company to date.
“Today is indeed a very meaningful day for us at Dayang. We have completed the negotiations, firmed up all the loose ends, and signed the dotted line with Shell.
“The award of this contract is much like a point of inflection for us at Dayang. It shows that we are now capable of handling the bigger jobs being offered.”
He further said that Dayang’s Shell contract was one of the few contracts under the Pan Malaysia cluster of contracts awarded in May this year.
He added that Dayang has secured an excess of RM4 billion worth of jobs under the Pan Malaysia cluster.
“While we have worked hard over the years to build on our strengths and capabilities, we could not have made it thus far without the help and trust of oil majors in the industry.
“This is a strong testimony of how far we have grown over the years.” Meanwhile, Dayang’s share price is now in excess of RM5.30, giving the company a market capitalisation of about RM3 billion.