KUALA LUMPUR (Jan 22): TAS Offshore Berhad (TAS) via its wholly-owned subsidiary has secured shipbuilding contracts for three units of tugboats with a total value of approximately RM22.6 million.

In a bourse filing on Monday, the company said the contracts were signed with an existing customer from Indonesia.

It said these vessels are expected to be delivered in the third quarter of 2025.

TAS said the revenue generated from the contract is expected to contribute positively to its earnings for the financial year ending May 31, 2026.

At midday break, TAS traded unchanged at 50.5 sen with 520,600 shares traded.