KUALA LUMPUR (Feb 4): Silk Holdings Bhd (Silk), an offshore support vessel service provider, has just secured a contract to provide one straight supply vessel with accommodation, to ExxonMobil Exploration and Production Inc.

According to a filing with Bursa Malaysia, the contract, which is worth approximately RM24.46 million, will commence immediately and will last for a primary term of two years, with the option of a one-year extension.

Silk (fundamental: 02; valuation: 0.3) said the new contract would contribute positively to the group’s earnings for the financial year ending July 31, 2015, and beyond.

Silk’s share price closed at 53.5 sen today, up 1 sen or 1.9%. This gives it a market capitalisation of RM375.32 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)