1. Introduction

The Board of Directors of Uzma Berhad (“Uzma” or “the Company”) is pleased to announce that MMSVS Group Holding Co. Ltd., Thailand (“MMSVS”), a wholly-owned foreign subsidiary of the Company has received a contract award from Medco Energi Thailand (Bualuang) Limited (“Medco Energi Thailand”) for the Provision of Chemical Supply and Services for the Bualuang Field for a period of three (3) years through Medco Energi Thailand’s Contract issued to MMSVS dated 20 May 2021. This announcement has been approved by Medco Energi Thailand on the 11 June 2021.

2. Salient Terms

The salient terms of the Contract are as follows: -

1. MMSVS’s scope of work comprises the supply of production chemicals and oilfield chemicals, including technical services for the Chemical Management Program for the Bualuang Field the Gulf of Thailand. (“Services”).
2. The duration of the Contract is for a period of three (3) years on a callout basis where the Services shall be provided upon Medco Energi Thailand’s written callout notice.
3. The value of the Contract is approximately United States Dollar Three Million Only (USD3,000,000.00) over the estimated Contract period.

3. Risk factors

Potential risk factors include project operational and execution risks, work schedules, delivery timelines and adverse weather conditions.

4. Financial effects

The Contract is expected to contribute positively towards the earnings and net assets per share of the Company for the financial year ending 30 June 2021 and onwards until the expiry of the Contract.

5. Directors’ and Major Shareholders’ Interests

None of the Directors and/or major shareholders and/or persons connected with the Directors and/or major shareholders of Uzma has any direct or indirect interest in the Contract.

6. Directors’ Statement

The Board of Directors of the Company, after considering all the relevant factors, is of the opinion that the acceptance of the Contract is in the best interest of the Company.

This announcement is dated 11 June 2021.