Silk wins contracts worth RM40mil

KUALA LUMPUR: Silk Holdings Bhd has secured four long term contracts worth a total of RM39.75mil from Petronas Carigali Sdn for the provision of four units of anchor handling tug supply vessel (AHTSV).

In a filing with Bursa Malaysia yesterday, SILK said its subsidiary Jasa Merin (Malaysia) Sdn Bhd had been the awarded the four contracts.

It said the long term contracts for the a four units of AHTSV was for the primary period of one year, with various effective commencement dates in July 2011 respectively, with options to extend for a further period of one year each.

Silk Holding said the contracts would not materially affect the results of Silk for the financial year ending July 31 but was expected to contribute positively to its earnings and assets for the financial year ending July 31, 2012.

The contracts are not expected to have any effect on the share capital and shareholding structure of Silk.

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