SILK Holdings Bhd (SHB) announced that its 70%-owned subsidiary, Jasa Merin (Malaysia) Sdn Bhd, was awarded, on 21 March 2013, shipbuilding contracts by Muhibbah Marine Engineering Sdn Bhd (MME) for the construction of two units of 62-metre Anchor Handling Tug Supply (AHTS) vessels and one unit of 70-metre AHTS vessel.
The purchase consideration for the vessels of approximately RM 216.49 million (approx $69.5 Mln) will be funded through a combination of internal funds and borrowings.
The vessels are expected to be delivered in stages from the end of the current calendar year until early 2014.
[mappress] Press Release, March 22, 2013