Alam Maritim wins RM99mil contract


  • Business
  • Wednesday, 22 Mar 2017

In a filing with Bursa Malaysia, the offshore support vessel provider announced that the two-year contract was awarded by an independent oil and gas exploration and production company.

PETALING JAYA: Alam Maritim Resources Bhd’s wholly-owned subsidiary, Alam Maritim (M) Sdn Bhd has won a contract worth up to RM99mil, to provide subsea inspection, maintenance and repair (IMR) services.

In a filing with Bursa Malaysia, the offshore support vessel provider announced that the two-year contract was awarded by an independent oil and gas exploration and production company.

It came with an extension option of one year.

“The contract is expected to contribute positively to the earnings and net tangible assets of Alam Maritim for the financial year ending Dec 31, 2017 and beyond.

“Notwithstanding this, the contract is not expected to have any material effects on the share capital and shareholding structure of the company,” said Alam Maritim in the filing.

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