This article first appeared in The Edge Financial Daily on February 19, 2020
KUALA LUMPUR: Alam Maritim Resources Bhd said its unit had been awarded a work order worth RM28 million for the provision of an anchor handling tug and supply for Petronas Carigali Sdn Bhd.
In an exchange filing, the group said the work order awarded to its wholly-owned Alam Maritim (M) Sdn Bhd is for a charter duration of up to 630 days from the commencement date of Jan 4.
The contract, it said, is expected to contribute positively to earnings and net tangible assets of Alam Maritim and its group of companies for the financial year ending Dec 31, 2020 and thereafter within the duration of the contract.
Shares in Alam Maritim closed one sen lower at 14.5 sen yesterday, valuing the group at RM159.51 million.