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NewsCoastal bags RM318m worth of vessel orders
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Coastal bags RM318m worth of vessel orders
by Cals Mon 21 Oct 2013, 19:33
| Coastal bags RM318m worth of vessel orders |
| Business & Markets 2013 |
| Written by Jeffrey Tan of theedgemalaysia.com |
| Monday, 21 October 2013 18:55 |
In a statement to the stock exchange, Coastal, a ship builder, said it has secured the orders via wholly-owned units Coastal Offshore (Labuan) Pte Ltd and Thaumas Marine Ltd.
The orders comprise one subsea support maintenance vessel, a platform supply unit and four anchor handling tug supply vessels.
Ng Chin Heng, executive chairman of Coastal said "revenue stream from these vessels is expected to contribute positively to the top and bottom line performance of the group for the financial years ending 31 December 2013 and 31 December 2014.
"Including these new contract wins, Coastal group’s vessel sales orders as at to date stands at approximately RM1.28 billion".
According to Coastal, the vessels from the latest contracts are expected to be delivered this year and next year.
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