Malaysia's Alam Maritim Resources Berhad (AMRB), a provider of offshore supply vessels and subsea services in Southeast Asia, reported Monday that its wholly-owned subsidiary, Alam Maritim (M) Sdn Bhd, has recently been awarded a contract for the provision of one unit straight supply vessel for an established oil and gas company.
The contract is worth approximately $12.05 million (MYR 37.9 million), with the value inclusive of the optional periods if exercise by client. The contract is for a firm period of three years with an extension option for one year.
"The contract is expected to contribute positively to the earnings and net assets of AMRB for the financial year ending Dec.31, 2013 up to 2017," the company said in an announcement on the local stock exchange Bursa Malaysia.
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