BUSINESS TIMES (Malaysia): Petra Perdana secures deal to support Shell ops: “PETRA Perdana Bhd has secured a RM600 million contract to support Shell companies’ operations in waters off Sarawak and Sabah.” (ShellNews.net) 7 Jan 05
Friday, January 07 2005
PETRA Perdana Bhd has secured a RM600 million contract to support Shell companies’ operations in waters off Sarawak and Sabah.
Its wholly-owned subsidiary Petra Resources Sdn Bhd has signed the four-year contract with Sarawak Shell Bhd and Sabah Shell Petroleum Co Ltd to provide major maintenance, hook-up, commissioning and construction services to the two companies.
Petra Perdana told Bursa Malaysia Bhd yesterday that the agreement with the two Shell companies was signed on Monday.
The company had earlier announced that the contract will have a minimal impact on its financial results ending 31 December 2004.
This is because works as spelt out by the contracts will only commence in first quarter of this year.
For the first nine months of last year, Petra Perdana made a RM7.75 million net profit on a RM150.55 million revenue.
In the same period a year ago, its net profit was RM7.30 million, achieved on a RM163.62 million revenue.
The company’s earnings per share for the nine-month period of last year stood at 5.99 sen against 6.01 sen previously.
Its share price on Bursa Malaysia yesterday closed unchanged at RM4.80 with 91,400 shares traded.
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