Friday, August 12, 2011

Alam Maritim up in early trade

KUALA LUMPUR: ALAM MARITIM RESOURCES BHD [] shares advanced on Friday, Aug 12 after it secured separate contracts worth a total RM20.16 million from Petronas Carigali Sdn Bhd to supply an accommodation vessel, and a workboat to a local oil and services company.

At 9.31am, Alam added three sen to 79 sen with 265,000 shares done.

It said on Thursday, Aug 11 that its unit Alam Maritim (M) Sdn Bhd had received the letter of awards from Carigali and the local company for the contracts.

Alam Maritim said the contract with Carigali, which has a period of 138 days, will have a maximum daily extension option of 30 days.

Meanwhile, the contract for the work boat was only for 30 days with no specific extension option.

The contracts commenced in July 2011, it said.

The company said the contracts would contribute positively to its earnings for the financial year ending Dec 31, 2011.


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