PETALING JAYA: Coastal Contracts Bhd
’s wholly owned subsidiaries, Coastal International Marine Inc and Pleasant Engineering Sdn Bhd, have secured contracts for the sale of two vessels for an aggregate value worth RM187.6mil.
In a filing with Bursa Malaysia, the oil and gas services and energy infrastructure solutions provider said the sales comprise one high-end offshore support vessel and one low-end marine transportation vessel.
“The vessel sales are expected to contribute positively to the earnings and net assets of the company for next year,” the company said.
For the third quarter of this year, Coastal reported a net profit of RM19.77mil compared with a net loss of RM49.07mil in the previous corresponding period, while revenue rose to RM15.93mil versus RM6.27mil previously.
