Icon secures RM12.7m contract for vessel charter


As the value of the company is tied to the performance of the company, it is in the interest of the warring shareholders to argue and fight outside the company.


KUALA LUMPUR: Icon Offshore Bhd's wholly owned subsidiary Icon Offshore Group Sdn Bhd has secured a RM12.7mil contract from Carigali Hess Operating Company Sdn Bhd for the provision of an anchor handling tug supply vessel.

The group said in a statement today that the contract is for a period of one year with an option to extend for three months. 

The charter period for the first service order shall be for 180 days.

"The Contract, valued at approximately RM12.7 million inclusive of the optional extension period, is expected to contribute positively to the earnings, order book and net assets of ICON for the financial year ending 31 December 2019 and beyond. 

"Notwithstanding this, the Contract is not expected to have any material effect on the share capital and shareholding structure of ICON," said the group.

At the close of the morning trading session, Icon's share price was unchanged at 10 sen per unit on the back of 1.9 million shares traded.
   

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