KUALA LUMPUR (October 13): Handal Energy Bhd’s wholly owned Handal Offshore Services Sdn Bhd (Handkrane) has received an award letter from Carigali Hess Operating Company Sdn Bhd for providing inspection and maintenance services for pedestal cranes.

In a filing with the stock exchange, the group announced that the contract, the value of which has not been disclosed, will run for three years from September 15, with the option to extend it for another two years.

“The contract is expected to make a positive contribution to the Handal Group’s results for the fiscal year ending June 30, 2021 and subsequent years until the contract expires,” said Handal.

The Handal share closed unchanged today at 19 Sen, which corresponds to a market capitalization of 41.58 million RM.