PETALING JAYA: Coastal Contracts Bhd
has secured a charter contract worth RM7.38mil on Dec 5, 2025 for its liftboat, with the on-hire date expected to commence by Dec 10, 2025.
In a filing with Bursa Malaysia, the integrated oil and gas services and energy infrastructure solutions provider said the contract was secured via its subsidiary, Elite Point Pte Ltd and is for a tenure of 88 days.
“The charter contract is expected to contribute positively to the earnings and net assets of the company for the financial year ending Dec 31, 2025 and Dec 31, 2026 during its contract tenure.
“The risks associated with the charter contract are mainly the normal operational and execution risks typically associated with liftboat operations and vessel chartering services. Notwithstanding this, the company has put in place adequate risk management procedures and processes in mitigating these risks.”
Coastal Contracts said the acceptance of the contract is in the best interest of the company.
