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Alam Maritim awarded RM75.19m vessel charter contracts extension

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Alam Maritim awarded RM75.19m vessel charter contracts extension Empty Alam Maritim awarded RM75.19m vessel charter contracts extension

Post by Cals Mon 29 Sep 2014, 22:23

Alam Maritim awarded RM75.19m vessel charter contracts extension
Business & Markets 2014
Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com   
Monday, 29 September 2014 18:43

KUALA LUMPUR (Sept 29): Alam Maritim Resources Bhd’s wholly-owned subsidiary, Alam Maritim (M) Sdn Bhd, has received a letter of extension from ExxonMobil Exploration and Production Malaysia Inc to extend its existing charter party contracts for a sum of RM75.19 million. 

In a filing with Bursa Malaysia, the group said the contracts are for the long-term charters of one unit of accommodation barge and one unit of anchor handling tug vessel, for a period of two years from Oct 12, 2014, until Oct 11, 2016. 

“The contracts, valued at approximately RM75.19 million, are expected to contribute positively to the earnings and net tangible assets of Alam, for the financial year ending December 2014 and beyond,” said Alam. 

Alam closed at RM1.29, down 1 sen or 0.77%, bringing its market capitalisation to RM1.19 billion.
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