PETALING JAYA: Coastal Contracts Bhd
, via its subsidiary Elite Point Pte Ltd, has secured a charter contract worth RM7.27mil.
In a filing with Bursa Malaysia on Thursday, the ship chartering company said the contract is for its liftboat, with the on-hire date expected to commence by May 5, 2026.
“The charter contract, which is revenue in nature and entered in the ordinary course of business, is for a tenure of 90 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, 2026 during its contract tenure.”
The company added that the risks associated with the charter contract are mainly the normal operational and financial 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,” said Coastal Contracts.
