KUALA LUMPUR (May 20): Coastal Contracts Bhd (KL:COASTAL) has secured the sale of an offshore support vessel (OSV) and a charter extension for a separate vessel.

According to a bourse filing on Monday, the group’s wholly owned unit Coastal International Marine Inc secured the contract for the OSV sale, while Pleasant Engineering Sdn Bhd secured the charter contract extension.

The charter extension is for a period of five years, while no further details were disclosed pertaining to the OSV sale.

Neither of the contracts' values were disclosed in the filing.

Nonetheless, Coastal Contracts said it expects both the sale contract and charter extension to contribute positively to the company’s earnings for the financial year ending Dec 31, 2024 and relevant periods thereafter.

Shares in Coastal Contracts ended two sen or 1.23% lower at RM1.60, giving the company a market capitalisation of RM878.03 million.