Yinson gets six-month extension for charter contract with PTSC

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KUALA LUMPUR (Dec 31): Yinson Holdings Bhd said its Vietnam associate PTSC Asia Pacific Pte Ltd (PTSC AP) has entered into an addendum to the bareboat charter interim contract with Petrovietnam Technical Services Corp (PTSC) to extend the tenure for a further six months commencing Jan 1 to June 30, 2019.

In a filing with the bourse today, the integrated offshore service provider said the extended interim contract was entered into pursuant to a six-month extension of the tenure of a contract entered into between PTSC and Petrovietnam Exploration Production Corp to charter PTSC Lam Son floating production, storage and offloading vessel for the petroleum operations within the Lam Son Field.

"The extended interim contract is expected to have positive impact on the earnings and net assets per share of Yinson for the financial year ending Jan 31, 2019 and 2020," it said.

The group did not disclose the contract value of the extension.

Yinson shares ended the morning session down one sen or 0.24% to RM4.17 today, with 187,600 shares done, giving a market capitalisation of RM4.56 billion.