Icon bags vessel charter deal extension worth RM36mil

?The proposed project, if materialised, could provide Tan Chong Motor with opportunity to expand its foothold in the automotive industry in Vietnam,? the company said in a filing with Bursa Malaysia last Friday

KUALA LUMPUR: Icon Offshore Bhd’s Brunei subsidiary, Icon Bahtera (B) Sdn Bhd, has received an extension on the charter of its vessel, Icon Kayra, with a variation to the initial contract valued at RM36 million.

In a filing with Bursa Malaysia today, the group said the agreement inked with charterer Zell Transportation Sdn Bhd in August 2014 was for a firm period of five years with an option to extend the hire for another two years.

However, the extension given by Zell to Icon Bahtera in May this year was varied for a firm period of two years with a one-year extension option. 

Icon said the variation worth RM36 million is expected to contribute positively to its earnings, order book and net assets for the financial year ending Dec 31, 2019, and beyond.

At 3.04 pm, Icon shares were flat at 9.5 sen. - Bernama