Friday, December 16, 2011

Coastal Contracts shares up as YTD order wins rise to RM690m

KUALA LUMPUR (Dec 16): COASTAL CONTRACTS BHD [] shares rose on Friday after its year-to-date order wins rose to RM690 million after the company secured new contracts worth RM233 million.

At 9.05am, Coastal Contracts added seven sen to RM1.86 with 67,900 shares traded.

The company said on Dec 15 that its units had secured contracts for the sale of three offshore support vessels, two landing crafts and two barges for a total of RM233 million.

'With this latest batch of contracts, the value of Coastal Group's secured vessel sales orders currently stood at about RM610 million, with deliveries through 2012,' it said.

Coastal Contracts said the contracts were expected to contribute positively to its earnings for the financial year ending Dec 31, 2012.


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