PETALING JAYA: Uzma Bhd
’s latest contract extension would generate RM15mil to RM20mil of revenue in total for the two-year contract, going by past job wins in the hydraulic workover unit (HWU) space.
According to Kenanga Research, this will boost Uzma’s financial year 2024 (FY24)cumulative wins to RM715mil versus the research firm’s full-year job win assumption of RM1bil.
“We anticipate this job to achieve a net margin of 7% to 8%, consistent with the group’s overall net margins. Therefore, we consider this job win to align with our expectations,” the research firm said.
Uzma has secured an extension for the provision of an HWU for the Bualuang project for two years.
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