KUALA LUMPUR, Dec 21 ― Daya Materials Bhd (DMB) said today that its subsidiary Daya Secadyme Sdn Bhd (DSSB) has received a letter of award from Petronas Carigali Sdn Bhd for the provision of integrated production chemicals supply and services worth an estimated RM67.0 million.

The duration of the contract is for a period of five years starting from December 11, 2017, with an option for an extension of another year.

The execution of the contract depends on work orders to be issued to DSSB from time to time when the supply of integrated production chemicals and services are required.

"This long awaited award will elevate us to the next level in the production chemicals industry in Malaysia.

"We believe that this is yet another step in the right direction for DMB as we leverage on our strong franchise to capitalise on the expected recovery of the oil and gas sector, as well as continue to focus our resources on our more profitable businesses within the group in order to return DMB to profitability. 

"This contract brings the group’s outstanding orderbook to a solid RM608 million. We are working tirelessly to drive earnings growth by successfully executing the various contracts in our orderbook.” said group chief executive officer, Datuk TS Lim.