Friday 29 Mar 2024
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KUALA LUMPUR (Aug 11): Shares of Scomi Energy Services Bhd jumped 5.45% after the company said ite marine services division had secured more than RM140 million worth of contracts.

At 9.43am, Scomi Energy was up 1.5 sen to 29 sen with 229,900 shares done.

Oilfield and marine services provider Scomi Energy Services Bhd had said its marine services division has secured more than RM140 million worth of contracts over the last four months.

In a statement yesterday, Scomi Energy said the contracts are for the transportation of coal and provision of offshore vessel services to clients in Indonesia, Malaysia and Thailand.

The company said the order book of its combined core businesses comprising oilfield services and marine services is currently over US$1.7 billion (RM6.69 billion).

Scomi Energy's marine services president Mukhnizam Mahmud said the company is still focusing on its target market in the Southeast Asian region with Malaysia and Indonesia being the key locations for the company's coal logistics operations.

For its offshore services unit, which provides vessel services to the oil and gas industry, the company is actively bidding for work in India, Myanmar, Indonesia, Malaysia and the Middle East, the statement read.

Scomi Energy said this strategy of expanding geographic footprint is necessary amidst the current weakened demand.

 

 

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