Dialog awarded Petronas master service agreement


02 July 2019

Source: The Edge Financial Daily

 

KUALA LUMPUR: Dialog Group Bhd announced yesterday that it had been awarded a master service agreement by Petroliam Nasional Bhd (Petronas), in relation to plant maintenance and turnaround works for the national oil firm’s plants group-wide.

In a stock exchange filing yesterday, Dialog said the contract,awarded to its wholly-owned subsidiary Dialog Plant Services Sdn Bhd, covers integrated plant turnaround works and daily mechanical static maintenance work.

The contract is valid for five years, with an option to extend by Petronas.

The contract is expected to contribute positively to Dialog’s earnings and net assets from the financial year ending June 30, 2020, the company said.

Dialog executive chairman Tan Sri Dr Ngau Boon Keat said the longterm contract enables the group to stay competitive and sustain growth

Dialog’s share price gained one sen or 0.3% at RM3.27 yesterday, with a market capitalisation of RM18.44 billion.