KUALA LUMPUR (June 13): Coastal Contracts Bhd has secured a charter contract for a vessel and the extension of an existing charter contract for a liftboat, for a total value of RM252 million.
In a Bursa Malaysia filing, the group said the contracts were awarded to its subsidiaries, Pleasant Engineering Sdn Bhd and Elite Point Pte Ltd.
The new contract is for a period of five years commencing in June, while the contract extension is for two years commencing in September with two annual extension options.
“The contracts are expected to contribute positively to the earnings and net assets of the company for the financial year ending June 30, 2022 and the financial periods thereafter,” the group said.
Shares in Coastal Contracts finished seven sen or 3.76% lower at RM1.79, giving the group a market capitalisation of RM964.4 million.
Source: TheEdge - 14 Jun 2022
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