Alam Maritim gets RM6.59m work order from Petronas Carigali

Alam Maritim gets RM6.59m work order from Petronas Carigali
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KUALA LUMPUR (Dec 17): Alam Maritim Resources Bhd has received a RM6.59 million order for the provision of an anchor handling tug vessel from Petronas Carigali Sdn Bhd.

In a bourse filing, the group said its wholly-owned subsidiary Alam Maritim (M) Sdn Bhd had been awarded the work order from the Petroliam Nasional Bhd's (Petronas') subsidiary.

Specifically, Petronas Carigali will charter Alam Maritim’s Taha Assafa vessel for 125 days, with a 30-day extension option. The contract took effect on Oct 3.

“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 (FY19) to 2020 (FY20)," the group said.

Shares of Alam Maritim closed 4% or half a sen lower at 12 sen per share, giving it a market capitalisation of RM122.87 million. The counter saw 10.81 million shares transacted.