Tuesday, October 18, 2011

SILK rises on new charter contracts from Carigali

KUALA LUMPUR: SILK Holdings Bhd shares rose on Tuesday, Oct 18 after it secured three long-term charter contracts worth a total RM55.3 million from Petronas Carigali Sdn Bhd.

At 9.18am, SILK rose 3.5 sen to 26.5 sen with 698,300 shares traded.

The company had said on Monday, Oct 17 that its subsidiary, Jasa Merin (Malaysia) Sdn Bhd, had been awarded three long term charter contracts by Petronas'' Carigali each for the provision of one ''unit of anchor handling tug supply vessel (AHTSV).

It said the long term contracts for two of the AHTSV were for the primary period of one year each, with options to extend for a further period of one year, and the third vessel the primary period of two years, with option to extend for a further period of one year.

It said the effective commencement dates for the respective vessels would be in October and early November 2011.

SILK said the contracts were expected to contribute positively to its earnings for the financial years ending July 31 July, 2012 and 2013.

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