Barakah Offshore back in the black


Barakah Offshore sasid PBJV Group Sdn Bhd served a notice of arbitration at the end of last year to Mersing Construction & Engineering Sdn Bhd to claim RM56.81mil in connection with subcontract dated April 4,2016

KUALA LUMPUR: Barakah Offshore Petroleum Bhd has returned to the black, posting a net profit of RM17.52mil in the third quarter ended March 31,2020 due to the settlement of debt with one of the group’s sub-contractors.

In a filing with Bursa Malaysia, the group said its wholly owned subsidiary PBJV Group Sdn Bhd served a notice of arbitration at the end of last year to Mersing Construction & Engineering Sdn Bhd to claim a sum of RM56.81mil in connection with subcontract dated April 4,2016.

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