Ahmad Zaki signs deal to continue bunkering activities at Kemaman base

KUALA LUMPUR (March 31): Ahmad Zaki Resources Bhd (AZRB) has signed a rental and bunkering services agreement to enable the group to continue its bunkering activities at the Kemaman Supply Base in Terengganu.

AZRB said its wholly-owned subsidiary, Inter-Century Sdn Bhd, signed the agreement with Pangkalan Bekalan Kemaman Sdn Bhd to receive, store, distribute and sell marine oil and carry out bunkering activities at the main wharf of the supply base.

AZRB, in its bourse filing, did not indicate the cost of renting the wharf.

The agreement will be effective for a period of 10 years from Friday (April 1), with an option to extend the lease period for another 10 years.

Shares in AZRB closed up 0.5 sen or 2.38% to 21.5 sen, giving the stock a market capitalisation of RM129 million.