Coastal sells five vessels

PETALING JAYA: Coastal Contracts Bhd has secured the sale of five of its vessels for RM178mil. The company told Bursa Malaysia that its wholly-owned subsidiaries, Coastal Offshore (Labuan) Pte Ltd, Thaumas Marine Ltd and Pleasant Engineering Sdn Bhd, had collectively secured contracts for the sale of three units of offshore support vessels and two units of low-end vessels.

“The total value of the group’s vessel sales order book stands at approximately RM1.2bil,” it said.