Alam Maritim Wins LoA for Provision of Underwater Services (Malaysia)

Alam Maritim Resources Berhad (AMRB) announces that its wholly owned subsidiary, Alam Maritim (M) Sdn Bhd, has received a letter of award from an independent oil and gas exploration and production company for the Provision of Underwater Services comprising subsea inspection, maintenance and repair.

The Contract is for a primary period of three years with an extension option exercisable by the Client for another one year. The Contract value is approximately RM182 million (US$ 58.8 million).

The Contract is expected to positively contribute to the earnings and net assets of AMRB for the financial year ending 31 December 2013 up to 2017.

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Press Release, March 26, 2013