KUALA LUMPUR (May 31): Alam Maritim Resources Bhd’s wholly-owned subsidiary Alam Maritim (M) Sdn Bhd (AMSB) has bagged three charter contracts worth RM19.83 million.
Though the group did not disclose the name of the awarder, Alam Maritim said in its bourse filing that AMSB won the charter contracts of three units of anchor handling tug & supply (AHTS) vessels from “reputable oil and gas companies”.
The first AHTS vessel contract will be valid for three months with an extension option of one month and a further extension option on a weekly basis.
The duration of the second AHTS vessel contract is six months, with an extension option of four months and a further extension option on a weekly basis.
As for the third AHTS vessel contract, it will be valid for two years with an extension option of one year.
“The abovementioned charter contracts are expected to contribute positively to the earnings and net tangible assets of Alam Maritim for the financial year ending December 31, 2017 and beyond,” the group said.
“Notwithstanding this, the abovementioned charter contracts are not expected to have any material effects on the share capital and shareholding structure of Alam Maritim,” it added.
Alam Maritim settled 7% lower at 20 sen, valuing the group at RM184.89 million.