Alam Maritim secures RM14.42 mln Petronas Carigali's contract

KUALA LUMPUR, Dec 26 – Alam Maritim (M) Sdn Bhd has secured a work order for a vessel under the provision of anchor handling tug and supply from Petronas Carigali Sdn Bhd for RM14.42 million.

In a filing with Bursa Malaysia, the marine transportation support company said the risk factors associated with the contract include execution and operational risks such as availability of vessels, skilled manpower, equipment and materials in compliance with the terms of the contract.

“It is expected to contribute positively to the earnings and net tangible assets of Alam Maritim and its group of companies for the financial year ending Dec 31, 2019 and thereafter within the duration of the contract,” it said.

Notwithstanding, the contract will not have any material effect on the share capital and shareholding structure of Alam Maritim.

-- BERNAMA