The Board of Directors of Alam Maritim Resources Berhad announced that its wholly-owned subsidiary, Alam Maritim (M) Sdn Bhd, has recently received a letter of award from Petronas Carigali Sdn Bhd (PCSB) for the provision of one unit accommodation vessel.
The Contract which has commenced on 11 March 2013, is for a primary period five years with optional extension of another one year. The Contract is valued at approximately RM61.32 million (inclusive of the optional extension period, if exercised by PCSB).
The Contract is expected to contribute positively to the earnings and net assets of AMRB for the financial year ending 31 December 2013 up to 2018. Notwithstanding this, the Contract is not expected to have any material effects on the share capital and shareholding structure of the Company.
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Alam Maritim, April 9, 2013