Uzma Inks JVA For Chemical Tracer Services

KUALA LUMPUR, Jan 7  -- Uzma Bhd's wholly-owned unit, Uzma Engineering Sdn Bhd, has inked a joint venture agreement (JVA) with Chemical Tracer Services Sdn Bhd to form a JV company to provide chemical tracer services for the offshore oil and gas sector.

The joint effort by both parties based on their specific strengths and resources would enable the JV company to tap into any opportunities that arise and enhance the chances of securing a contract, Uzma said in a filing to Bursa Malaysia.

"The prospects for the JV company are good as the demand for projects is increasing in line with the bright prospects of the overall oil and gas industry in Malaysia.

"The contractual and operational risk factors will be known at the later stage should the parties successfully secure projects," it said.

The JV company is expected to contribute positively to Uzma's future earnings.

-- BERNAMA