PETRONAS Carigali Charters Four PPB’s AHTS Vessels (Malaysia)

The Board of PPB announced that Perdana Nautika Sdn Bhd, a subsidiary company of PPB, has secured from PETRONAS Carigali Sdn Bhd a letter of award for the supply of four (4) units of Anchor Handling Tug Supply (AHTS) vessels.

The charters will run effective from 1st January 2013 for a period of five (5) years each with extension options of an additional year.

The risks associated with the Contract are normal operational risks which can be mitigated through PPB’s system of project management and internal business controls.

The LOA is valued at approximately RM430 million and is expected to contribute positively to the revenue and earnings of PPB Group for the financial year ending 31 December 2013 and the financial periods thereafter for the duration of the Contract. There will be no effect on the gearing of the PPB Group and the Contract will not have material effect on the net asset per share for the financial year ending 31 December 2013.

[mappress]

PERDANA, January 8, 2013