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

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