Malaysia: Alam Maritim Secures Contract for AHTS Vessel

The Board of Directors of Alam Maritim Resources Berhad announced that its wholly-owned subsidiary, Alam Maritim (M) Sdn Bhd, has received a letter of award from an established oil and gas company for the provision of one (1) unit anchor handling tug supply vessel.

The contract which is expected to commence in the second half of the year 2013 is for a primary period of five (5) years with an extension option exercisable by the Client for another two (2) years. The contract is for a value of up to RM71.54 million if the Client engages the barge/vessel for the full duration inclusive of optional period.

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 2020.

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Alam Maritim, June 5, 2013