Thursday 28 Mar 2024
By
main news image

This article first appeared in The Edge Financial Daily on January 10, 2020

KUALA LUMPUR: Perdana Petroleum Bhd has bagged four time charter contracts worth RM50.1 million from its major shareholder Dayang Enterprise Holdings Bhd to charter two units of accommodation workbarge and two units of anchor handling tug and supply vessels.

Dayang is the single largest shareholder of Perdana Petroleum, with a 60.48% stake as at March 12, 2019. As such, the charter of the four vessels is a recurrent related party transaction.

In a bourse filing yesterday, Perdana Petroleum said its wholly-owned subsidiary Perdana Nautika Sdn Bhd had on Wednesday entered into four time charter contracts with Dayang’s unit Dayang Enterprise Sdn Bhd for the purpose.

The contracts are expected to commence from February and the extension period is subject to the mutual agreement between both parties.

It added that the contracts are anticipated to contribute positively to the earnings of the group.

      Print
      Text Size
      Share