Icon unit gets extension on charter of vessel

PETALING JAYA: Icon Offshore Bhd ’s subsidiary in Brunei, Icon Bahtera Sdn Bhd, has received an extension on the charter of its vessel, Icon Kayra, from charterer Zell Transportation with a variation to the initial contract valued at RM36mil.

In a filing with Bursa Malaysia, the group said that in April 2014, both Zell Transportation and Icon Bahtera had inked an agreement for five years with an option to extend for another two years.

Currently, the extension given by Zell Transportation is for a firm period of two years with an option to extend for one year.

Icon Offshore said the variation worth RM36mil would contribute positively to its earnings, order book and net assets for the financial year ending Dec 31, 2019 and beyond.

”Notwithstanding this, the contract is not expected to have any material effect on the share capital and shareholding structure of Icon Offshore,” it noted.