Alam Maritim awarded multiple contracts worth RM226m

PETALING JAYA: Alam Maritim Resources Bhd has bagged several oil and gas contracts worth RM226.08 million.
The group said the contracts are for the provision of offshore support vessels for the oil and gas companies and main contractors in Malaysia and the Middle East.
The contracts are a mixture of short- and long-term contracts with a primary period of six months to three years, with an extension option of one to two years.
Alam Maritim expects the contracts to contribute positively to its earnings and net tangible assets for the financial year ending Dec 31 and beyond.
The stock gained 4% to close at 13 sen today on 658,300 shares done.