Yinson Holdings Berhad announced that on 17 June 2019, Addax Petroleum Development (Nigeria) Limited has entered into an addendum with Addon Pte. Ltd. to further extended the Contract for an additional duration of four years with retrospective effect from 17 October 2018 to 16 October 2022. The value of the Contract extension from 17 June 2019 is estimated to be USD 137.5 million (equivalent to approximately MYR 574.1 million). There are no material changes to the terms of the Contract that will have material adverse effect to Yinson. The contract will not have any effect on the share capital and shareholding structure of the company. The Contract, however, is expected to contribute positively to the earnings and net assets of Yinson and its group of companies for the financial years ending 31 January 2020 onwards until the expiry or termination of the Contract. The risks associated with the Contract are normal operational risks which can be mitigated through the Group’s system of project management and internal business controls.