Alam Maritim Bags $9.6M Deal to Demobilize a Floating Storage Facility

Malaysia-based Alam Maritim Resources Berhad disclosed Monday that the firm's wholly-owned subsidiary Alam Maritim (M) Sdn Bhd has received and accepted a Letter of Award, valued at approximately $9.56 million, from a local oil and gas services company to provide demobilization services for a floating storage facility offshore Malaysia.

Alam Maritim will carry out work on the contract from Oct. 6 to Nov. 15.

"The Contract, valued at approximately $9,563,235.00, is expected to contribute positively to the earnings and net tangible assets of ALAM for the financial year ending Dec. 31 and beyond," Alam Maritim Resources said in a filing on local stock exchange Bursa Malaysia Monday.

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