Tas Offshore sells tug to international client

Malaysia’s shipbuilding and ship repair services firm TAS Offshore has secured a contract for the sale of one unit of Utility Tug with value of approximately RM13.2 million (USD $ 4 million)

“The vessel was sold to one of our new foreign customers,” Tas Offshore said in a Bursa Malaysia filing.

The vessel is expected to be delivered in April 2015.

“The revenue generated from the contract is expected to contribute positively to the earnings and net assets of TAS Group for financial year ending 31 May 2014 and 2015,” Tas Offshore said.