The Board of Directors of Dayang Enterprise Holdings Bhd announced that its wholly-owned subsidiary company, Dayang Enterprise Sdn Bhd ("DESB"), has been awarded an extension to the PM-MCM Contract from SEA Hibiscus ("Extended PM-MCM Contract"). The value of the Extended PM-MCM Contract is based on work orders issued by SEA Hibiscus throughout the extended contract duration. The contract extension duration is for approximately one year, five months and fifteen days, effective from 17th July 2023 until 31st December 2024.

Risk factors affecting the Extended PM-MCM contract include execution risks such as availability of skilled manpower and materials, changes in prices of materials, changes in political, economic and regulatory conditions. DESB shall ensure strict compliance with the safety and operational procedures in the execution of contract requirements.