Uzma climbs on RM200m Petronas contract, off high of RM2.29

Shares of UZMA BHD surged to a high of RM2.29 in the morning session on Thursday, March 3 after it secured a RM200 million contract from Petroliam Nasional Bhd.

At 12.02pm, it was trading at RM2.16, up three sen with 187,700 shares done.

Uzma said the long term service contract is to provide a low pressure system (LPS) for Petronas’ domestic upstream operations.

The contact will include supplying its equipment, manpower and consultancy for the LPS units for three years, with effect from Feb 18 this year to Feb 17, 2014.

Petronas has the option to further extend the contract for a further two years.
(theedgemalaysia.com)