KUALA LUMPUR: Alam Maritim Resources Bhd’s unit has bagged two contracts worth RM14.4 million to provide one anchor handling tug supply (AHTS) vessel to Petronas Carigali Sdn Bhd.
In a Bursa Malaysia filing today, Alam Maritim said its wholly-owned Alam Maritim (M) Sdn Bhd had been awarded the contracts effective from November 12 this year.
“The contract 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 December 31 2019 and thereafter within the duration of the contract,” it added.
Alam Maritim said the risk factors associated with the contract included execution and operational risks such as availability of vessels, skilled manpower, equipment and materials in compliance with the terms of the contract, unexpected mechanical breakdown, changes in political, economic and regulatory conditions.