Uzma Berhad announced that its engineering unit in Philippines has entered into a Well Services Contract with Philippine Geothermal Production Company, Inc for the provision of drilling cementing cervices.

The contract will require the unit to offer provision of Drilling Cementing Services for PGPC's geothermal fields in the Philippines; and will took effect from 1 September 2024 and shall remain valid until 31 August 2027.

Uzma said the contract will not have any effect on the share capital and shareholding structure of the company as it does not involve the issuance of ordinary shares in the company. However, it added that the contract is expected to contribute positively towards the earnings and net assets for the company.