Saturday 27 Apr 2024
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KUALA LUMPUR (April 25): Alam Maritim Resources Bhd's wholly-owned subsidiary Alam Maritim (M) Sdn Bhd has bagged a RM2.32 million service order contract from FPSO Ventures Sdn Bhd.

The contract is for the provision of manpower, equipment, remotely operated vehicles (ROV) and diving support vessel (DSV) for underwater inspection in lieu of dry-docking (UWILD) operations, for FSO Angsi.

In a filing today, it said the contract shall be undertaken by Alam Maritim commencing from mobilisation until successful completion of the services at the worksite, based on 12-hour operations.

"The contract is expected to contribute positively to the earnings and net tangible assets of Alam Maritim and its group of companies for the financial year ending Dec 31, 2019," it said.

Alam Maritim, which has risen 63% year to date, slipped one sen or 7.41% to settle at 12.5 sen today, for a market value of RM116.95 million. Some 6.85 million shares were traded.

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