Bursa Alert
Global Market
NewsYinson bags FPSO extension contract worth RM127.49 million
Page 1 of 1
Yinson bags FPSO extension contract worth RM127.49 million
by Cals Tue 21 Oct 2014, 01:53
Yinson bags FPSO extension contract worth RM127.49 million
By Ahmad Naqib Idris Adzman Shah / TheEdge Markets.com | October 20, 2014 : 1:50 PM MYT
KUALA LUMPUR (October 20): Yinson Holdings Bhd ( Financial Dashboard)’s wholly-owned indirect subsidiary, Adoon Pte Ltd, has obtained a one-year extension contract for the charter of its floating production storage and offloading (FPSO) vessel, FPSO Knock Adoon, by Addax Petroleum Development (Nigeria) Ltd.
In a filing with Bursa Malaysia, Yinson said the contract is worth US$39.0 million (RM127.49 million).
The original contract for the vessel was awarded on October 17, 2006, for period of eight years with an extension option of up to another eight years.
The original contract has expired on October 16, 2014, and both parties have agreed to extend the term of the contract by another year to October 16, 2015.
“The extension contract is expected to contribute positively to the revenue and earnings of Yinson group for the financial year ending January 31, 2015, and the financial periods thereafter for the duration of the extension contract,” said the group.
At noon market break, Yinson rose 9 sen or 3.5% to RM2.65, bringing its market capitalisation to RM2.74 billion.
By Ahmad Naqib Idris Adzman Shah / TheEdge Markets.com | October 20, 2014 : 1:50 PM MYT
KUALA LUMPUR (October 20): Yinson Holdings Bhd ( Financial Dashboard)’s wholly-owned indirect subsidiary, Adoon Pte Ltd, has obtained a one-year extension contract for the charter of its floating production storage and offloading (FPSO) vessel, FPSO Knock Adoon, by Addax Petroleum Development (Nigeria) Ltd.
In a filing with Bursa Malaysia, Yinson said the contract is worth US$39.0 million (RM127.49 million).
The original contract for the vessel was awarded on October 17, 2006, for period of eight years with an extension option of up to another eight years.
The original contract has expired on October 16, 2014, and both parties have agreed to extend the term of the contract by another year to October 16, 2015.
“The extension contract is expected to contribute positively to the revenue and earnings of Yinson group for the financial year ending January 31, 2015, and the financial periods thereafter for the duration of the extension contract,” said the group.
At noon market break, Yinson rose 9 sen or 3.5% to RM2.65, bringing its market capitalisation to RM2.74 billion.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Yinson gets second extension on Addax contract worth RM531m
» Fajarbaru bags klia2 contract worth RM13.7 million
» FPSO contract worth US$620m, says Bumi Armada
» AMRB unit bags RM38m contract extension
» DRB-HICOM's unit anticipates contract extension worth RM350 mil
» Fajarbaru bags klia2 contract worth RM13.7 million
» FPSO contract worth US$620m, says Bumi Armada
» AMRB unit bags RM38m contract extension
» DRB-HICOM's unit anticipates contract extension worth RM350 mil
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum