Icon Offshore bags RM25.6m vessel supply contract from Petronas Carigali

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KUALA LUMPUR (Sept 11): Icon Offshore Bhd's subsidiary has bagged a RM25.6 million contract from Petronas Carigali Sdn Bhd to supply one anchor handling tug and supply vessel for the petroleum arrangement contractor's production operations.

In a bourse filing today, the group announced that its unit Icon Offshore Sdn Bhd was awarded the contract following an amendment to the letter of contract on Aug 16, and only received approval from Petronas Carigali to release the news yesterday.

The contract commenced on Aug 17 and will continue for 730 days from that date, said Icon Offshore.

The group noted that the contract is expected to positively contribute to its earnings and net assets for the financial year ending Dec 31, 2019 (FY19) and beyond.

At noon market close, the counter settled at half a sen or 11.11% higher at five sen, giving it a market capitalisation of RM58.86 million. It saw 642,800 shares transacted.