Alam Maritim Resources Berhad announced that its wholly-owned subsidiary, Alam Maritim (M) Sdn Bhd, has recently been awarded a contract for the provision of one unit anchor handling tug supply vessel (AHTS).
The Contract, valued approximately at RM22 million (approx. USD 6.9 million) is for a primary period of six months with an extension option of another two months.
The risks associated with the Contract are mainly operational risks such as accidents and unexpected breakdown of vessels. In mitigating such risks, the Company has developed a programmed maintenance schedule which stringently adheres to the International Safety Management (ISM) Standards in maintaining performance and seaworthiness of all vessels.
The Board of Directors of AMRB is of the opinion that the acceptance of the Contract is in the best interest of the Company.
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Alam Maritim, October 4, 2013