Alam Maritim bags RM9.9m underwater services work order

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KUALA LUMPUR (July 22): Alam Maritim Resources Bhd has won an RM9.93 million work order for underwater services from IPC Malaysia BV.

The contract was secured by Alam Maritim’s wholly-owned subsidiary Alam Maritim (M) Sdn Bhd for works related to FPSO Bertam underwater inspection in lieu of dry-docking activities, the group said in a bourse filing today.

This marks the fourth work order announced by Alam Maritim year to date, amounting to about RM69 million in total.

Alam Maritim shares closed unchanged at 9.5 sen today, valuing the vessel operator at RM118 million. Year to date, the counter has fallen 26.9%.