Coastal Contracts secure vessels sales worth RM148m

Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Wednesday, 11 December 2013 18:28
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KUALA LUMPUR (Dec 11): Coastal Contracts Bhd announced that its
wholly-owned subsidiaries have collectively secured contracts for the sale of
one unit subsea support maintenance vessel (SSMV) and two units low-end
vessels for a total of RM148 million.
Thaumas Marine Ltd and Coastal Marine Pte Ltd are the two subsidiary
companies involved in the sale.
Apart from the one unit SSMV and one unit low-end vessel which were sold to
repeat customers, the other one unit low-end vessel was sold to a new
customer, the company told Bursa Malaysia.
“This is the fifth batch of vessel sales order secured by the group in FY2013.
With the securing of these latest sales, the total value of the group’s vessel
sales order book stood at approximately RM1.34 billion,” it added.
All of these vessels are expected to be delivered in 2013 and 2014.
The revenue from the sale of these vessels is expected to contribute positively to revenue and earnings of the group for the financial years
ending 31 December 2013 and 31 December 2014, it added.